Three Buys From Chicago Bear Hunter Hillenmeyer

Lastly, for the speculative investor out there, take a look at Steve Madden(SHOO Quote - Cramer on SHOO - Stock Picks). This company has been battered lately and has likely fallen as low as it will go. The big upside potential here is that this company is a likely buyout target.

Even if the debt markets make a buyout less likely, look for a stock buyback announcement from SHOO sometime soon. I like the big upside if someone moves in, especially with little risk of the stock falling much farther than it already has. Shares closed Friday at $16.69. For those true risk-takers out there, buy some longer-term, out-of-the-money call options to cash in on a nice buyout offer.

All three of these companies have good track records and reason to have faith in them even in tough markets. My advice in a market like this is to pick your spots. Find companies with growth opportunities whether recession strikes or not. I'll be throwing out a few of my best ideas here weekly on TheStreet.com, and sharing insight on how I'm managing my broader portfolio, so make sure to tune back in for some investing advice.

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