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I have three others that Peltier and I agree on that are worth buying in the event of a debt default or the plummeting I expect ahead of such an event -- one that is being described as impossible by both sides, and is often talked about as if it's as unlikely as a meteor hitting the Capitol building.
The first is
PFE). This is about as plain-vanilla a drug company as you can get. Normally I would select
BMY), but that stock is up on a spike. I might have gone with
Eli Lilly (
LLY), but I didn't like what I heard about the pipeline at last week's analyst meeting.
MRK) got yield and a share buyback, but it does not have the pipeline that many want. That's why Pfizer would seem to be such a natural. Pfizer continues to churn out earnings, and it remains committed to raising its dividend. The company is also so proactive that it actually split off its
ZTS) animal-health division in order to bring out value. I like that.
CPB). Here's a company that simply won't go away. It is a serial dividend-raiser, and I think that the company lives in constant fear of takeover bid, as its business looks a lot like the business of Heinz, which got a takeover bid earlier this year from none other than a team that included
Berkshire Hathaway (
BRK.B). There's nothing more consistent than soups and snacks.
Finally, the last Peltier-blessed stock:
MO). Look, I know that there's tremendous controversy and resistance involved in buying tobacco stocks, but this is a company that keeps taking share and keeps raising its dividend every August. Talk about a constant! The company behind Marlboro is a clockwork dividend-raiser.
Pfizer, Campbells and Altira: Two 3-percenters and a 5-percenter, all with growth prospects. Terrific Washington antidotes.
You know what else will get clocked? The telco stocks. The
Dividend Stock Advisor likes
T), but I could see some earnings risk coming down the pike from a recession. I want a company that has a terrific wireless business, because wireless growth continues unabated. I want
VZ), which just purchased the rest of Verizon Wireless that it doesn't own from