NEW YORK (CNN/Money) - With the U.S. stock market off to a strong start to 2004, investors may be wondering where to put their money in the new year, and two money managers appeared on CNNfn to offer some suggestions.

Ken Schapiro, president of Condor Capital, sees further room for gains in Cisco Systems.

"Cisco has been right on with their products and they're actually earning more money than they ever did in the whole bubble situation," he said. "This is a company that probably could earn $1 a share in another year or so. Voice over Internet is going to be a big driver in the situation."

Schapiro's second selection is Outback Steakhouse.

"I think the mad cow thing is probably pretty isolated and I don't think people are going to stop eating beef or going out to a restaurants and it's going to lower their costs," he said. "The bottom line is, beef is the big portion of their cost structure. And with lower beef prices, that's going to add to their bottom line."

Pfizer rounds out Schapiro's picks.

Ken Schapiro's picks Outback Steakhouse (OSI) Pfizer (PFE) Cisco Systems (CSCO)

"Pfizer has the best positioned pipeline going forward with their recent purchase of a biotech drug to kind of combine with their Lipitor franchise," he added. "I still think that they're going to continue to hold on to that cholesterol franchise going forward and they have several other follow-on blockbusters that are of big potential."

"So you're going to see very consistent earnings growth out of Pfizer. And have them have the ability to make that pretty easily over the next 12 to 18 months."

Funds under Schapiro's management own stakes in the companies mentioned.

Shares of Cisco (CSCO: up $0.20 to $26.54, Research, Estimates) are near their 52-week high.

Outback Steakhouse (OSI: up $0.03 to $43.23, Research, Estimates) shares have been between $30.05 and $47.32 in the last year.

Shares of Pfizer (PFE: down $0.24 to $36.21, Research, Estimates) is also near its highs for the past year.

Lori Wachs, portfolio manager with Delaware Investments, likes Nordstrom Inc. for a play in the retail sector.

"A few years ago they finally put in state-of-the-art inventory systems that gives real-live information that shows what's selling, so they can order more of it, and just as importantly, what isn't selling, so they can go back to vendors at the end of the season and say, this didn't work, you have to give us some markdown money," she noted.

"They also brought in a CFO from May who's really the industry leader in terms of operating margins, who's put a lot of financial disciplines in place. He's brought their debt down. He's really reigned in expenses."

Wachs' other pick is Starbucks.

Lori Wachs' picks Starbucks (SBUX) Nordstrom (JWN)

"At the size that they are, for them to still come through with the numbers that they have, it's just mind boggling. Up 11 percent they reported earlier this week," she said. "They've increased their advertising and they're also doing these bounce-back coupons where you buy something and next time you come in, you try something else for 50 cents off."

Funds under Wachs' management own stakes in the companies mentioned.

Shares of Nordstrom Inc. (JWN: down $0.18 to $35.88, Research, Estimates) and Starbucks (SBUX: down $0.15 to $33.23, Research, Estimates) are both close to their highest for the last year.