A brief introduction will be given to photoacoustic spectroscopy and the charactorization of several novel nanomaterials in particulate or filamentry form will be decribed. For the first time Fano lines have been detected optically in these materials. The effect of moderate magnetic fields 3000 to 120000 gauss on some of the spectra will be described. Interference effects have been observed in the NIR region of these materials.