Big initial public offerings (IPOs) like Alibaba have stolen the spotlight recently. However, Bespoke Investment Group's co-founder Paul Hickey told CNBC's "Fast Money" that the names people haven't heard of offer the best opportunity.
"When growth becomes scarce in the economy, like we've seen, growth stocks trade at a premium," said Hickey. "And that's why you've seen some of these stocks benefit here."
Hickey's first pick was Diplomat Pharma, a specialty pharmaceuticals firm that administers drugs and tracks compliance. Since going public on October 10th, 2014, the stock is up more than 110 percent, but Hickey said the stock has more room to run.
"The thing with most of these treatments is that they're not just popping a pill," said Hickey. "They're hard to administer or they're very expensive."