n. Stock from a company that investors believe will continue to show increased revenues and profits for many years to come.
A religion stock inspires (or used to inspire) blind faith. You know the names: America Online, Charles Schwab, Cisco Systems, Dell Computer, EMC, Lucent Technologies, Medtronic, Microsoft, Oracle and Yahoo, among others.
Investors who bought and held any one of those 34 stocks might have thought they were playing it safe. But in business, "a lot can change in a short time," Feld says. The same is true of any particular market sector, including what Leuthold calls the high-tech "religion stocks." Where will Cisco, Intel and Oracle be in 2010, compared with the SP? What about Yahoo and Amazon?
''Texas Oil and Gas has been a religion stock within the energy group,'' said George D. Baker, an industry analyst at Smith Barney, Harris Upham & Company.
Marcelo Mareque suggested this phrase.