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Byline: PAUL KATZEFF
The economy will recover at a moderate pace, not robustly, says Nick Calamos, co-manager of $1.3 billion Calamos Growth Fund.
Without a rising economic tide to lift all boats, his fund is looking for stocks that can do well on their own.
"The focus needs to be companies that offer pricing power," Calamos said in a recent conference call with financial reporters. "Or (ones) that can help other companies become more productive, or (that have) some unique products so there is top line growth."
The fund has found stocks offering those themes mainly in eight industries, including tax preparation, gaming, and recreational software and systems.
And Calamos' strategy offers insight into a growth manager's tactics at a time when the market's upward trend seems to be the early stage of a new bull market.
His fund group's convertible securities funds have fared better lately.