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The week began with a flashback to the credit crisis. It ended with figures showing the fastest inflation in six months and the lowest consumer-sentiment reading in 28 years. Along the way, as the stock market ebbed and flowed, CNBC guests assembled a collective portfolio that was heavy on technology, energy, and global exposure.
Lehman Brothers warned of an unusually large $2.8 billion quarterly loss, and pledged to raise $6 billion in new capital. April pending-home sales, a leading economic indicator, rose 6.3 percent.
David Sowerby of Loomis Sayles recommended technology stocks, with their abundance of free cash flow: Applied Materials , Corning, Harris Corporation. He also liked trendy watchmaker Fossil and beverage producer Dr. Pepper Snapple.
Stifel Nicolaus's Todd Weller went with information technology: Eclipsys, Allscripts, Quality Systems, Cerner.
Gary Anderson of the UMB Scout International Fund pointed overseas to Novo Nordisk, United Overseas Bank, and Petrobras.
The trade gap widened more than expected. Fed chairman Ben Bernanke warned that oil prices are driving inflation. XTO announced it was buying privately-owned Hunt Petroleum.
Barry James has a checklist for worthy investments. To be attractive, a stock must have good relative value, good historical corporate earnings, and good relative price strength.
He seeks out companies likely to hold up well in down markets, with good overseas sales and strong cash flows.
Two companies currently attracting his attention also happen to be the world's largest in their respective fields.
His five-star James Balanced Golden Rainbow Fund is up an average of 7 percent per year over the last three years.
James likes McDonald's , the world's largest restaurant chain.
"They've had reasonably good same-store increases, even in the United States," he told CNBC. "They've got a good menu, they've revamped it, competing for the coffee market...and even with a weak economy, McDonald's isn't likely to be as cut as some of the casual-dining places."
James also offered bonus picks for CNBC.com: Owens-Illinois, the world's largest manufacturer of glass bottles; Hewlett Packard and Wal-Mart, also giants in their fields.
How are you honoring your father this Father's Day? With a tie? A recycled birthday present? How about some stock?
Brent Wilsey of Wilsey Asset Management has some names that just say, "Dad."
His list begins with Harley-Davidson.
"That's a name everybody knows," he told CNBC. "I think it's time to buy the bike, and the stock."
Harley-Davidson stock is down 47 percent from its top, and Dick's Sporting Goods also looks like a bargain to Wilsey.
"Their sales are still up 21 percent, year-over-year, same as their earnings," he said.
Another retailer on his shopping list is Men's Wearhouse.
"The company's having a little bit of trouble, bit...at these levels, (the stock is) very attractive," he said.
He also likes auto-parts retailer O'Reilly Automotive, a stock that's been driven down by the weakening economy, high gas prices and its acquisition of rival CSK Auto.
Morgan Stanley upgraded financials to a neutral weight Thursday. And Vince Farrell, senior advisor to Scotsman Capital Management thinks their reasoning is sound and creative. He shares his thoughts about this report.
"We've had a bear market," David Katz of Matrix Asset Advisors told CNBC. "We think the next move in the market is going to start to discount a better '09, and a lot of these problems being resolved, and so we'd be buying into this weakness."
Not only is Katz buying, he's buying financials, specifically, Merrill Lynch and Morgan Stanley.
"We think if you have a 12-month time horizon, the brokers and the banks are going to be a very good place to be," he said. "You can't have an economy without a financial system."
But what about the freshly-surfaced problems at Lehman Brothers?
"We think Lehman, while significant, is probably more company-specific and a crisis of confidence with management than a significant change in fundamentals," he said.
One company rode the tech bubble of the 1990s; the other is part of the ill-starred fraternity of bond insurers. What do they have in common? Matthew Kaufler of Touchstone Value Opportunities thinks investors ought to give them a look.
His five-star fund is up an average of 13.8 percent per year over the last five years.
Kaufler's first pick is tech-bubble survivor Triquint Semiconductor, which he sees in a "sweet spot" thanks to two key trends.
"The evolution of second-generation to third-generation cellular networks and the evolution of wireless area networks to the 802.11N standard...necessitate multiple power amplifiers to be used in these devices," Kaufler told CNBC. "That shifts the demand curve outward for the suppliers of these semiconductors."
He also likes Assured Guaranty, which he refers to as a "last-man-standing play."
"You have Ambac and MBIA, which have lost their AAA ratings," he said. "Assured Guaranty has its AAA rating, so in the future, as deals get done...(it) now is going to have a lot more market share going forward."
Kaufler also offers a bonus selection for CNBC.com: Lorillard.
He says the cigarette-making spin-off from Loews is an excellent acquisition candidate, has a great track record at generating free cash flow, and provides a place to hide from the market's volaitility
Kaufler owns Triquint Semiconductor and Assured Guaranty through his fund.
Barry Ritholtz has had a "sell" on Lehman Brothers for several months. The latest management turmoil just confirms his view.
"We think there's no reason to be in the banks or the brokers," the Fusion IQ chief executive told CNBC. "We think it's an 'avoid,' and there's no reason to try and catch the falling anvil."
But he's not down on stocks, not by a long shot.
"There's plenty of opportunity now," he said. "We continue to like energy, and that includes companies like Arch Coal and Swift Energy, and...the enterprise software group has done very, very well: Look at Oracle, look at Sybase...BMC (Software) also looks interesting."
With most investors cowering in the face of a volatile market, now is a good time for investors to jump into deeply discounted stocks across all sectors, Ken Fisher, CEO of Fisher Investments, told "Squawk Box Europe" Thursday.
"People have had their pants scared off of them. Therefore they are running around basically naked," Fisher said.
"And when people are running around basically naked, they're not very rational, so you don't have to be very rational in the purchase process either, you can be broad spectrum and do it like a shotgun," he added.
Investment banks look to raise new capital and calm the turbulent waves they've been riding, but the recovery is still a long way off, says Meredith Whitney, executive direct of equity research at Oppenheimer & Co.
Moreover, says the closely watched Whitney, all banks' dividends are in danger of being eliminated due to ongong, protracted difficulties.
Ben Steverman cautions investors not to paint financial stocks with a broad brush.
The BusinessWeek writer urges those hunting for worthy investments to seek out the following "non-toxic" financials.
Hudson City Bancorp , which he describes as "the anti-Countrywide."
Charles Schwab, he says, "didn't fall for a lot of problems that E-Trade got into."
U.S. Bancorp, "doing fairly well, considering some of the other banks in its class."
Also on his list: BlackRock and T. Rowe Price.