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Surprise Stock Picks: Travel & Diamonds!

Charles Bobrinskoy, Vice Chairman & Director of Research at Ariel Capital Management, sees "very good consumer names" that are "dramatically oversold."

He offered CNBC his take in two consumer stocks:

Recommendations:

Carnival: He notes that the cruise line's "earnings have held up" -- despite soaring fuel costs and inflation in general. He pointed out that "older folks" are dependable customers, who scrimp and save specifically for sea vacations.

Tiffany: Despite the hit taken by many luxury retailers, Bobrinskoy points out that "only one-sixteenth of a stock's value is this year's earnings" -- and he sees bright things in store for the iconic jeweler next year.

"You put a diamond ring in that blue box and it's magic," he declared.

Disclosures:

Disclosure information was not immediately available for Bobrinskoy or his company.

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