Stockpickr's Confident Prediction of the Stock(s) Warren Buffett "Will Buy Next"

While the headline appears to be more confident than the piece itself, in Warren Buffett Will Buy This Stock Next, Stockpickr's James Altucher identifies two stocks today that might be attractive to Warren Buffett as he continues his search for a big acquisition. (Stockpickr is a subsidiary of Jim Cramer's

After detailing some of the moves he thinks Buffett won't make with his roughly $50 billion in cash and recounting Buffett's desire to do a big deal, Altucher makes a solid case for two candidates.

  • ConAgra Foods
    Altucher notes the company is based in Buffett's hometown of Omaha and has Warren's son Howard on its board. Even though ConAgra has beat earnings expectations four quarters in a row and analysts are raising their earnings forecasts, the stock is down 30 percent from its high on worries about food inflation. Altucher calls ConAgra a "safe buy at these prices." While sensibly acknowledging that a Buffett buy is not a lock, he points out buyers get a 3.7 percent dividend while they wait.

  • First Industrial Realty
    Like ConAgra, this real estate investment trust is down sharply from a recent high, and its dividend is even larger, at 12.6 percent. The kicker, says Altucher, is that when Buffett auctioned off his wallet with a stock tip inside in a 1999 charity auction, First Industrial was the tip. Plus, Buffett held it in his personal portfolio at the time. After doubling by 2006, First Industrial is now back to its 1999 levels but with better earnings. Altucher thinks that with the big dividend, "you can afford to sit back and wait and see if Buffett will dip his shoes into this company again."

Our regular WBW reminder: No one besides Warren Buffett knows for sure what Warren Buffett will do next, and even he might not know yet ... no matter what the headline writer says.

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