Fortune's Top 10 Stocks For '09

Fortune Magazine is looking ahead to 2009 with a list of ten especially promising stocks.

Senior editor Leigh Gallagher admits a certain risk.

"We don't know when the bottom is," she told CNBC. "What we do know is, when markets return, they return in force. Usually, after a bear market, in the first nine months, the market goes up by an average of 32 percent, so if you wait, you risk missing big momentum."


High on the list is Devon Energy.

"It's an exploration and production company, based in Oklahoma City," noted Gallagher. "No matter what you say about oil prices, the long-term trend is back up, and this company focuses mainly on the United States and Canada, areas that are, obviously, politically stable; it's also sort of 50-50 split between oil and natural gas, which is another hedge."

Fluor, she said, is a straight infrastructure play.

"It's a well-positioned company," she said. "This company has been doing well, one of the few that has revised earnings upwards for 2009."

In health care, Fortune likes Johnson & Johnson.

"You're playing the medical devices, you're playing pharmaceuticals, but you're also playing consumer staples," Gallagher explained. "This is a company with brands like Neutrogena, Listerine, Tylenol, the staples that are historically recession-resistant."

Then, there's Potash.

"Potash saw a huge surge earlier this year," she said. "It has come down, but long-term, that's something that's used in a lot of things; something nobody ever heard of until last year, but we're still talking about it.

Rounding out the list are Altria, Annaly Capital, Dell, Diamond Offshore, Medco Health Solutions and Pfizer.