Some managers who don't run hedge funds are still able to replicate the absolute-return model. That's the case with Scott Rothbort, founder of LakeView Asset Management, a registered investment adviser based in Millburn, N.J. Rothbort offers customized, individually managed accounts though long/short proprietary index strategies. He is also a professor of finance at the Stillman School of Business at Seton Hall University and a contributor to Street Insight, a subscription sister site of TheStreet.com. In a conversation, Rothbort talked about his investment style and best picks. As always, positions can change at any time without notice. TheStreet.com: Are you upbeat about the market?Scott Rothbort: I am upbeat. My target for the Standard & Poor's 500 for this year that I set in the beginning of the year is 1400. I can see that target being bumped up a little bit if the Fed pauses and stops its tightening program. And I think it's going to happen. I think it's probably going to be the case sometime this year. I don't think the Fed is going to want to continue tightening going into the hurricane season and the holiday season this year. What sectors do you favor? If there are certain sectors that I know better than others, it would be financial services, including broker dealers, retail, restaurants. In those industries I think I have a unique leg up on other people. While we have tech, I don't necessarily consider myself tech-heavy. We own Google ( GOOG) and Apple Computer ( AAPL). And we've owned them for a while. We have some Texas Instruments ( TXN). Google vs. Yahoo! (YHOO): Any preference? We don't own Yahoo!. I think Google is taking market share from Yahoo!. The issue there is that Google is investing and developing in other technologies, which is going to allow them to further diversify away from paid-ad search. Yahoo! needs to be scared of Google. I am not talking down Yahoo! -- I think it's a great company and we have traded it from time to time -- but if Google begins to develop content and paid content like Yahoo! has, then Yahoo! would be more concerned of Google than Google of Yahoo!.