5 Stocks to Navigate Stormy Seas

The managers of Oakmark Fund are finding companies they think are bulletproof despite the gloomy global economic picture.

Much of Western Europe is sinking deeper into recession. Falling demand from Europe is pinching emerging markets, particularly China. And the U.S. economy is growing only sluggishly.

What's an investor to do? Kevin Grant, co-manager of Oakmark Fund (symbol OAKMX), says he and his partner, Bill Nygren, are finding plenty of high-quality companies trading at bargain prices. Below are five of their favorites (all share prices and related data are as of the October 4 close):

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Steven Goldberg
Contributing Columnist, Kiplinger.com
Steve has been writing for Kiplinger's for more than 25 years. As an associate editor and then senior associate editor, he covered mutual funds for Kiplinger's Personal Finance magazine from 1994-2006. He also authored a book, But Which Mutual Funds? In 2006 he joined with Jerry Tweddell, one of his best sources on investing, to form Tweddell Goldberg Investment Management to manage money for individual investors. Steve continues to write a regular column for Kiplinger.com and enjoys hearing investing questions from readers. You can contact Steve at 301.650.6567 or sgoldberg@kiplinger.com.