What's the shortest path to long-term value? Michael Lippert, portfolio manager of the Baron iOpportunity Fund, offered his stock recommendations for this volatile market.
"We model our companies out four or five years, and we look at the potential for those companies to deliver earnings and cash flow out in the future," Lippert explained to CNBC. "My fund looks for investments in the Internet and information technology spaces."
So whose models look the most rewarding?
At the top of his list is Equinix.
"Equinix operates data centers that act as hubs of the Internet," he said. "Equinix's business has grown at a 30 percent rate for the last several years; we think that will continue; they generate very high margins and a lot of discretionary free cash flow."
He also likes Nextel International Holding.
"They operate the (Sprint) Nextel assets in Latin America," he said. "They're run by a high-quality U.S. management team; their top markets are Mexico and Brazil; those markets down there are less penetrated than up here; they're taking share, even in challenging markets."
Disclosre information for Michael Lippert was not immediately available.