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Regis Philbin names his favorite stock picks

Regis Philbin playbook: Alibaba

Fresh from his hedge fund internship, famed talk show host Regis Philbin returned to the CNBC "Fast Money" set on Thursday to share his latest stock picks.

"I've gotten involved with Alibaba," he said. "I bought it in its $80s. It hit $111 today."

Chinese e-commerce giant Alibaba saw its stock rise 2.67 percent to end the day at $111.57 per share.

Read More Regis: I was Einhorn's best summer intern ever

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Philbin, who is known as "the hardest working man in show business," said he'd had "a good feeling" about Alibaba stock. "And the fact that it was connected with Yahoo, that helps, too."

However, the stock pick that put Philbin on the map—and landed him an internship with David Einhorn's Greenlight Capital—was no longer in his portfolio.

"I'm out of Micron," he said, alluding to its drop to $28 per share in October from a 52-week high of $34.85.

Philbin said he had neglected to tell his former employer but attempted to make it up.

"Einhorn, Einhorn," he said in a stage whisper. "Alibaba, Alibaba!"

Read More A stock pick that landed Regis a summer internship

OptionMonster's Pete Najarian said he liked Philbin's Alibaba and Yahoo picks.

"I've been long both for a long time," he said. "Yahoo, when it gets past or through $50, I'm out of that trade, but I think Alibaba does go higher over time. That's one I think you put in the drawer, Regis. Don't look at it. It bobs around, a little bit of volatility. I think this ultimately goes to $150."

Philbin also said he had seen gains in his Tesla trade.

Read MoreTesla stock heading to $400 per share: Analyst

"I played with Tesla," he said. "When it got real deep, real low. And then went up high. Made a lot of money. But all of a sudden it goes up and down, up and down. I'm waiting for it to go down that low again. It hasn't."

Private Advisor Group's Guy Adami liked the trade.

"I think Tesla's headed up toward $300," he said. "Two-twenty-five has been the level to trade against. It had a decent day today. I still think the trend's to the upside."