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In the late 1980s, while working as a banking analyst, I actually got up close and personal with Carl Reichardt, who was CEO of Wells Fargo & Co. (NYSE: WFC) at the time.
And something he shared with me in his spacious San Francisco office has stayed with me ever since.
I asked Reichardt if Wells Fargo's focus on home and middle-market loans might be considered boring when other banks were chasing more exotic investments with higher yields.
He looked me straight in the eyes and said, "If plain vanilla means making a lot of money, then color me plain vanilla."
I bring this up because I've spotted a dental-technology firm that investors might at first consider ho-hum – but that's soared 80% in the past year. That's five times the gains of the S&P 500 during the same period.
Yes, investing in a dental company may sound dull – or maybe even painful – but this is actually a profit-producing tech superstar.
A Shopping List – and a Recipe
I've been thinking a lot about dental tech lately because I have an appointment to get an implant. It's an expensive procedure, one that will cost me at least $7,500, not counting insurance reimbursement.
So, I know from firsthand experience that patients are willing to pay a bunch of money to fix their teeth.
A lot of patients.
Indeed, the firm I've spotted – whose technology keeps people's teeth in proper alignment – has a potential client base of 10 million teenagers and young adults.
Align Technology Inc. (Nasdaq: ALGN) only counts about half of that target market as patients fit for its platform. But because it has so far hit only about 7% of its audience, the Silicon Valley firm still has a target-rich opportunity in front of it – and a long way to grow.
No wonder Align set the market on fire April 28, when its stock price soared more than 13% on six times its normal volume.
That's a very bullish sign.
At the time, Align's first-quarter sales hit a record. Overall they grew by 30%. Even better, offshore sales jumped by 41%, meaning this is a medtech leader with the potential to go truly global – and reach billions more customers.
With that in mind, let's put Align through Your Tech Wealth Blueprint – our five rules for spotting – and creating – tech wealth. These five guidelines are kind of like a shopping list, or even a recipe – a shopping list that helps you find great companies… and a recipe for the kind of wealth that gives you a stress-free life today and a worry-free retirement tomorrow
Take a look…
Rule No. 1: Great Companies Have Great Operations
We're always on the lookout for well-run firms with top-notch leaders.
You'd be hard pressed find a sav…
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.