Western New York Money Manager Likes New Economy Stocks but Not Dot.Coms.

Byline: David Robinson

Nov. 14--David Elias thinks the Dow Jones Industrial Average will hit 40,000 within the next 16 years, but the Williamsville money manager still thinks investors can do better.

How?

By following the leaders. The big multinational companies that are ahead of the competition in their fields and have the deep pockets that will allow them to make the investments that will help keep them on top.

But investors also need to keep an eye out for the future, watching for trends that can provide a tip-off to which industries are poised to grow fast in the coming years.

That means a healthy dose of technology and communications companies, with hefty helpings of financial …