Where the Money Is—Still? A 2025 Look at a 2001 Investing Playbook

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I came upon Dr. Bob Froelich’s book Where the Money Is: How to Spot High-Growth Stocks and Big-Payoff Opportunities buried behind the many newer books in my library. Published in 2001, it was over twenty years ago in a world of meme stocks, AI-fueled ETFs, and crypto rollercoasters. Froelich argued that investors should stop using old measurements and start paying attention to developments in the broader picture.

I reopened it after two market crashes and twenty years. I was hoping Froelich would make a point. In light of the dynamic nature of the modern financial market, is any of it relevant?

Then vs. Now: A Market in Flux

At the turn of the millennium, investors were high on the promise of the “new economy.” Dot-com companies ruled the Nasdaq, day trading became a hobby, and valuation seemed like an old-school concern.

Froelich captured that moment perfectly, arguing that:

  • You should buy the trends, not the numbers.
  • Traditional valuation metrics were becoming obsolete.
  • Benefits would accrue in the long run due to global megatrends, including aging populations and rising markets. 
  • The environment of growth-oriented investors did not accommodate those gloomy and fearful.

Fast-forward to 2025, and the market looks… different. We’ve seen booms, busts, a pandemic, and a shift toward caution. AI, sustainability, and digital infrastructure dominate today’s growth narratives. Froelich’s optimism may feel out of place, but it also feels oddly familiar.

What Still Holds Up

  • Trend-Based Investing is Now Mainstream 

Today, entire portfolios and ETFs are built around AI, clean energy, cybersecurity, and biotech megatrends. Froelich was ahead of the curve in focusing on where capital was flowing, not where it had been.

  • Global Diversification Matters More Than Ever. 

He urged investors to look beyond U.S. borders—a principle that has aged well. In 2025, ignoring emerging markets, global supply chains, and demographic shifts is a strategic oversight.

  • Demographics Still Drive Demand 

From Gen Z to aging Boomers, the power of population trends hasn’t waned. Froelich’s advice to follow these shifts remains one of his strongest points.

What Hasn’t Aged So Well

Valuation Still Matters 

Perhaps the boldest claim in the book—that valuation metrics are obsolete—didn’t survive the crash of 2001 or the correction of 2022. Investors learned that while trends matter, fundamentals provide the anchor.

Optimism without Guardrails can be Costly.

Froelich’s tone was boldly bullish. While inspiring, it lacked the balance modern investors now seek—where optimism is tempered by discipline and risk management.

What the Book Taught Me in 2025

As someone who once worked in biomedical sales and now spends my days writing grants, essays, and reflections on business and life, I’ve watched markets shift from Y2K euphoria to AI ethics. Rereading Where the Money Is reminded me of the importance of seeing the forest—the macro view, the long arcs of change.

Sure, not all of Froelich’s forecasts panned out. But he invited readers to be curious, to follow the flow of capital, and to trust that innovation often precedes understanding.

 “You don’t make money by looking at the numbers. You make money by seeing where the money is going.

Dr. Bob Froelich 

That quote still resonates. Though I might add this in 2025:

“In markets, trends are your friends—but fundamentals are your anchors.”

Final Thoughts: Is Where the Money Is Worth Reading in 2025?

Yes, as a historical perspective and a thematic investment lens. Froelich’s book is less a tactical guide today than a mindset primer. It reminds us that true investing is both art and analysis, intuition and information.

And in case you were wondering, the cash is now. Both innovation and discernment will undoubtedly be affected. Froelich taught us to look to the future. Be sure to bring along a calculator and a compass.

 Let’s Keep the Dialogue Moving

Are you planning to read any of your old investing books again soon? Unveiling the wisdom behind the buzz! Your thoughts would be greatly appreciated. Amidst the chaos of today’s markets, remember there’s more to it than simply seeking profits. It’s about deciphering the narrative underlying the statistics.

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Brad G. Philbrick

A grant proposal writer of biotechnology and healthcare

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