Hot Sector, Cool Hand

from Barron's:

>>Talking With Michael Lippert, Portfolio Manager, Baron iOpportunity Fund

"Innovation" is a key concept for Lippert, and it's a word he uses often. "We want businesses that are high-growth, that are doing something really innovative, that have barriers around their business, and that are clearly taking market share and getting stronger," he says.

At the top of Lippert's list is Equinix (EQIX), which provides network-exchange facilities for cable and telecom networks. Lippert likens Equinix to an airport, since it helps speed data to intended destinations.

The iBaron Opportunity Fund first bought the shares six years ago, at 20. They were at $105 late last week, and still have room to run, he says, especially since Equinix keeps raising revenue guidance, as it did in the latest quarter.