The key to making money in investing is looking at investments where most people don't see any opportunity. With so many investors retreating to the safety of cash, bonds, and the most conservative of stocks, that makes now a perfect time to take a second look at some of the most promising companies you can find in today's market.

Once burned, twice shy
Before last year, investors felt a lot more comfortable about all sorts of stocks. As the bull market pushed the overall market higher, some of the best-performing stocks were those of innovative young companies like Hansen Natural (NASDAQ:HANS), American Eagle Outfitters (NYSE:AEO), and Daktronics (NASDAQ:DAKT), all of which offered the promise of high potential for future success. By the time the market returned to record highs in 2007, many of those who had taken the higher risk involved in investing in companies early in their growth phase had seen sweet rewards.

Unfortunately, for many of these companies, all that came crashing down during the market meltdown. As economic activity started to slow, even the fastest-growing companies faced severe headwinds that many of them had never experienced during their short histories.

Many nervous investors decided that enough was enough, retreating to the relative safety of bonds and cash. Many who decided that they needed to stay in stocks moved away from the most aggressive investments and toward more conservative plays like mature dividend-paying stocks. Although few would say that the growth prospects of a company like Coca-Cola (NYSE:KO) or Wal-Mart Stores (NYSE:WMT) would put them in the same league as a young, fast-growing company, most would admit that it's unlikely that you'll lose all your money in them.

Going for the gold
I'd be the last person to say that dividend payers don't belong in your portfolio. Their unique mix of current income and modest yet significant potential for future growth make them incredibly useful for investors of all ages, especially those who rely on their investments to generate cash for current expenses.

Yet in the fallout from the financial crisis, conservative investments have gotten incredibly popular. Investors have piled into bond funds in an attempt to protect their capital from further losses in the stock market, and the flows of money have gotten so substantial that some believe it could mark the formation of the next asset bubble.

In contrast, you won't find many people focusing on risky stocks with solid growth prospects. Having seen the consequences of hard times, most investors don't have the appetite for risk. For those who've grown rich by bucking trends and seeking forgotten and scorned opportunities, however, their contrary natures are undoubtedly leading them to look closely at high-growth stocks. You should be looking, too.

The right kind of growth stock
As with any stock investment, you need to be picky. It's not enough just to grab any company with a decent growth rate over the past several years. Instead, look for interesting qualities like the following:

  • Foresight. At a time when premium brands like Starbucks (NASDAQ:SBUX) were blooming, Green Mountain Coffee Roasters (NASDAQ:GMCR) looked in a different direction. Its Keurig machines effectively bridged the gap between Mr. Coffee and the $4 latte at a time when customers were looking for ways to economize without sacrificing quality of life. Now, it's Starbucks that's on the run.
  • Commitment. If you're going to put your hard-earned money to work, you want to make sure that company's working for you. That's why looking for companies whose executives have retained substantial stock ownership is important to ensure that management will be on your side.
  • A lasting edge. Many companies are innovators, but few are in a position to prevent their competitors from muscling in on their hard-won territory. By identifying companies that do have a competitive advantage that they can defend, you'll make sure you're not paying for growth that can't last.

If economic uncertainty has kept you from looking at growth stocks lately, you're not alone. But if you're in a position to handle higher risk in your portfolio, now might be the best time to spice up your investments by adding some more aggressive stocks to your portfolio.

Fool co-founder David Gardner has some stock ideas he wants to show you. Check out which stocks our supercomputer loves.