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Leisure Spending

Experts' Picks

We asked the experts for their best advice

INVESTING IDEAS


BEST STOCK THAT DOESN'T PAY A DIVIDEND: Berkshire Hathaway Chris Davis, who co-manages Selected American Shares (a member of the Kiplinger 25), says Warren Buffett of Berkshire Hathaway (BRK.B, $3,780) must be "excited at the prospect of having so many opportunities to buy assets on the cheap." Earlier this year, Buffett announced plans to buy Constellation Energy Group and acquired interests in General Electric and Goldman Sachs. "He'll deploy a heck of a lot of capital in a lot of different ways," says Davis.

BEST FOREIGN STOCK: Gold Fields A renowned bargain hunter with decades of experience, Jean-Marie Eveillard, who manages First Eagle Overseas fund, digs gold in general and Gold Fields (GFI, $8) in particular. In all of the four First Eagle funds with which Eveillard is involved, he says, "we have owned gold for a while as insurance against extreme outcomes." Gold Fields, a South African mining company, has 1 million ounces of identified gold reserves. Eveillard thinks the company is worth about $20 per share.

Favorite mutual fund: Prospector Opportunity At West Capital Management, in Philadelphia, Dane Czaplicki conducts exhaustive due diligence of mutual funds. One of his favorites is Prospector Opportunity (POPFX), which invests mainly in small and midsize companies. Czaplicki likes this fund because its managers -- John Gillespie and Richard Howard, previously of T. Rowe Price, and Kevin O'Brien, formerly of Neuberger & Berman -- have invested their own money and "treat clients' capital like their own." The fund lost 25% in 2008 to October 13.

Dividend-paying stock: Johnson & Johnson Chief investment officer at Harbor Advisory, in Portsmouth, N.H., Jack De Gan takes a cautious approach that favors buying blue-chip stocks and holding them for years. Johnson & Johnson (JNJ, $56) sells everything from drugs to Band-Aids, and "consumption of most of its products doesn't change with the economy," says De Gan. "This is an all-weather stock." It recently yielded 3.3%.

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TRAVEL

BEST CARRY-ON TRAVEL BAG Doug Dyment, the founder of OneBag.com, advises choosing a bag without curves and wheels, both of which take up storage space. It should also be soft-sided and made of industrial nylon so it's malleable and can handle being stuffed into overhead compartments. For business, Dyment's pick is the Red Oxx Air Boss ($225), pictured. Its three compartments organize your laptop, business and personal items. For leisure, his choice is the Genuine Gear Voyageur (www.meipacks.com, $136).


CELEBRATION

BEST OF THE HOLIDAY BUBBLY Brisk global demand and tight supply have driven even nonvintage Champagne prices over $50, says Steve Tanzer, who publishes the bimonthly journal International Wine Cellar. Tanzer recommends NV Charles Heidsieck Brut Réeserve ($55), which he says "harmoniously combines fresh fruit notes of dried pear and peach with deep, yeasty notes of toffee, toasted bread, truffle, roasted nuts and smoke."

If you're not wedded to a French bubbly, Tanzer recommends 2005 Mont Marçal Brut Reserva. This Spanish wine is "unusually delicate and refined for a cava." And at $15, "it's a steal."

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