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Andy Serwer Commentary:
Street Life by Andy Serwer Column archive
Serwer: Betting on a 'hip' profit
An outfit into hip replacements is a promising demographics play.
Market insight from Fortune Editor-at-Large Andy Serwer

NEW YORK (Fortune) -- Gee, that was a big surprise that the Fed left interest rates alone. Why even have the meeting? Save some money. Not touching rates helps the incumbents. Conspiracy? Or not....

T. ROWE PRICE: As in the venerable money management form from Baltimore. Stock has been a high riser going from a low of $11 and change to $45ish. Stock down recently though. People are concerned the business is slowing, but Daniel Goldberg at Bear Stearns is still upbeat, noting assets under management grew 5 percent or $14.4 billion. That ain't chopped liver. TROW (Charts) isn't a cheap stock but it's a good one over time.

SMITH & NEPHEW: (Reminds me of a brand of rum from Jamaica, Ray & Nephew...) This is the hip replacement company. Talk about demograpahics! Reader Deep Blue tells me his old college roomie is getting this new double hip replacement surgery and that the procedure was pioneered over in England and just approved in the states this year. NY Times did a big article about it and the the company behind it is Smith & Nephew, which trades here in the U.S. under ticker SNN (Charts). I really think this baby has some upside. There's some patent issues here, but looks like it just had a favorable ruling...

AMPHENOL: Sounds like a drug, but it's actually a tech company out of Wallingford, CT. The company makes electronic connectors and it has been hot, hot, hot lately. Both the business and the stock. APH is up more than 55 percent this year and has recently been on lists of favorite stocks and undiscovered gems. May be a great company, but I'd be wary of the stock (Charts) at these levels. (P/E is 27).

Loose Change: Did you see that Todd Skinner, one of the baddest climbers in the world, died in a fall at Yosemite? Very sad. RIP Todd ... Correction: Ford didn't lose $45,000 per second in the last quarter, that was per minute. Still!... Dear Weather.com. Your site crashes on Macs! I know Macs only have a 6 percent market share, but that's growing and I bet higher for your demos! ... Little REO Speedwagon for y'all: "Heard it from a friend, who. Heard it from a friend, who...."

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E-mail Andy Serwer at serwer@fortunemail.com and see him on CNN's "In the Money" and "American Morning."

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