Starbucks stock retreated in heavy volume after a report suggested the coffee chain's growth may be losing some steam.» Read More
Bob Doll, CIO of global equities at BlackRock, named the stocks his firm is buying. His picks include Travelers -- and financials such as JPMorgan and Bank of America.
He also offered CNBC his market insights.
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"We think equities are the asset class to be in," David Fording told CNBC. The manager of the four-star William Blair Growth Fund also has some ideas about the star pupils in that class.
"We're buying a company like Fastenal," he said. "They're an industrial distributor, about a $7 billion market cap; we do think there will be a re-acceleration in U.S. growth, probably before the re-acceleration in global growth."
When it comes to timber, Kent Croft sees both the forest and the trees.
His five-star Croft Value Fund is up an average of 12.27 percent per year over the last five years.
"Timber is not normally correlated very highly with stock and bond markets, but I also think it's a wonderful time to get in," he told CNBC. "The reason you want to get in is sort of the inherent economics of a tree: As a tree grows, obviously the volume increases, but, also, the per-unit use of that volume increases in price."
His first pick in the space is Plum Creek Timber, which he says holds 8 million acres.
It's not just motorists and home heating-oil customers who suffered from this year's staggering run-up in oil prices. Oil companies suffered right along with them.
Tina Vital of S&P U.S. Equity Research and Phil Weiss of Argus Research says those companies' shares are in a position to recover nicely.
"[The firms] have a refining business, and that business has been making very weak profits relative to last year," Weiss told CNBC.
"We expect the 'super-majors' to deliver on good volume growth, but a lot of that's not going to happen until next year," Vital added.
Weiss likes Marathon Oil best.
Coca-Cola , PepsiCo or Dr Pepper Snapple Group -- which beverage maker will win the gold in 2008?
Coke Chairman Neville Isdell told CNBC that sponsoring the Beijing Olympic games will give his firm the world's biggest marketing stage -- in the biggest potential market.
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A surging economy, a huge trade suprlus, and the Olympics: 2008 looks like China's year.
But what of naysayers,who believe China's economy is overheated, point to this year's retreats on Chinese markets, and those who are looking past the big August games?
"Let's look at it from a trader's point of view," author and CNBC contributor Peter Navarro said. "The Chinese markets are in a technical downtrend; if you go long that market now, you're basically trying to pick a bottom, and you know how hard that is."
Nonetheless, Navarro has some strong recommendations for investors.
"What I like to do is look for good, solid story stocks," he explained. "China Medical...is my best buy; there's a wave of cancer going on in China. China Medical...has a large share of the market in cancer diagnostics."
Navarro also likes Asia Info.
"There's a telecom restructuring reform...which is going to spur good growth in that market, regardless of the cycle," he explained. "Asia Info provides IT solutions to that market, as well as some infrastructure."
Also on his list is China Battery.
"It's basically lithium-iron rechargeable batteries," he said. "In South Korea, there was a big fire at one of the laptop battery plants, and there's a shortage, worldwide now, so that's like a short-term macro play."
Jerry Doctrow, real estate analyst at Stifel Nicolaus, sees a very sanguine corner of the property market: Health care REITs.
He offered CNBC his take on the health- and medical-oriented real estate -- and his favorite stocks in the subsector.
Companies discussed in the interview include: Omega Healthcare, HealthCare Realty and Health Care REIT .
Disclosure information was not available for Doctrow or his company.
Barry James is looking to some well-known large-cap names to see him through the bear market.
The president of James Advantage Funds has been a careful student of the last 10 bear markets, and he's noted three to five waves of selling in each bear market. So where are we now?
"I would look at this as the third one," he told CNBC. "From the high that we had in May until the lows that we had recently, we were down double-digits, and we've had a little bit of a bounce."
James has been doing some buying.
"That's about the only way you can survive in a bear market...to counterpunch," he said.
James likes Disney, WalMart, AT&T, and Hewlett-Packard.
"They're all pretty cheap, relative to the market...they've had good earnings up to this point in time, and in this...bear market environment, some of the things we look for are stock buybacks...expectations to be not too high by the analysts, and we look for price appreciation...and all of those...meet those criteria," he explained.
Jason Votruba is big on small cap stocks. His five-star UMB Scout Small Cap Fund is up an average of 11.6 percent per year over the last five years.
"The small caps have been actually doing pretty well in this environment, outperforming, to the surprise of a lot of people, many of the large caps," he told CNBC. "In a recovery, I think they'll continue to perform well."
His first pick is Microsemi.
The company makes specialized microchip components, like the tiny ones that regulate power inside implantable cardiac devices.
"They've got a pretty stable business behind them," Votruba said. "You look at about two-thirds of their end markets, they're stable and growing markets."
Microsemi recently raised the high end of its guidance.
He also likes Huron Consulting Group.
"They're benefiting from a lot of the hard times that corporations are having out there right now," he said. "A lot of their business is consulting to the health and education markets...they just re-structured their eDiscovery business, which is a hot market right now -- the legal profession uses them -- I think they're seeing good demand from that."
Disclosure information for Jason Votruba was not immediately available.
The difference between Apple and Yahoo is a lot more than just opposite ends of the alphabet.
Putnam's Kevin Divney sees a dramatic difference between the ways the technology company and the search engine are being run, and thus on the wisdom of owning the two stocks.
"We don't own Yahoo right now," he told CNBC. "I think there's too much uncertainty in the business; there are better competitors in technology...why take the risk of all the boardroom drama?"
Apple, on the other hand, gets high marks from Divney.
"I think it's a great long-term growth story," he said. "Obviously, they've had a (few) bumps with earnings season...they're going to come out with a new device...and the rumors are, it will have another impact factor. They keep on lining up new products in a nice sequential line."