Being a physician can be lucrative—so what you do with your money may be as important as how you earn it, especially because managed care has tightened the financial screws. But you play the Big Board and dabble in some mutual funds that a colleague recommended; so your money is working for you. Right?

Actually, it is doubtful that your portfolio is performing as well as it could be. “The usual mistake that physicians make is that they are so successful in so many areas—they are successful economically, academically and professionally—they think that their expertise should naturally extend to financial investments,” said Dr. Louis Mitchell, an anesthesiologist from Lubbock, Tex.

When Steven H. Abernathy talks about interactive investing, those who knew him in his former career might flinch. But the boxer-turned-money manager’s idea of a useful contact has changed dramatically since the early 1980s.

Rather than relishing a good right jab, the contact he now values is bouncing ideas off the healthcare and technology professionals that invest in the Steven Abernathy Group.

The bumpy stock market has thrown some high-tech investors off the track in the past year. But Steven Abernathy is not one of them.

Mr. Abernathy, hired several years ago to form his own investor group at Cowen & Co., specializes in what he calls “Interactive InvestingTM” for technology and healthcare professionals.

In this case, interactive isn’t a new-media game. It refers to Mr. Abernathy’s reliance on the industry insight of leading technology and media executives, many of whom set the trends and the agendas at their companies.

In the ever-evolving dictionary of financial terms, Steven Abernathy of Cowen & Company’s Steven Abernathy Group has added a new entry – Interactive Investing. The concept implies proactive interaction between the investment manager and their investing clients for identifying and researching investment opportunities. Abernathy Group, consisting of a partner of Cowen & Company, and his research, investment and marketing teams, uses these techniques to manage $80 million worth of assets of which $45 million are in three hedge fund like composite strategies.

Nearly five years ago, Steven Holt Abernathy, a director of the Private Client Group at Cowen & Company and founder of The Steven Abernathy Group, developed Interactive Investing, an investing strategy that encourages medical professionals to use their medical expertise to enhance the performance of their investment portfolios. By combining his financial knowledge with the medical expertise of his clients, Abernathy has produced an unparalleled return of 1002%, over the past four-and-two-third years. A $1,000,000 investment four-and-two-third years ago is worth over $11,000,000 today.

While the market barely moved last year, these investment advisers achieved eye-popping gains. They’re shooting for a repeat in ’94.

The 1993 year-end results of the Money Manager Verified Ratings have been tallied, and as usual, the investment performances of the top managers are so dazzling as to skirt the rim of unreality.