Fund Buys Phones, TV Service, Toilet Paper

Legg Mason's Dmitry Khaykin shares the stocks he considers essential to own in a weak economy in this video.

If a company's product or service isn't essential, it has no place in Dmitry Khaykin's mutual fund.

"What we mean by essential is something that a consumer needs every day of their lives," says Khaykin of the Legg Mason Partners Investors Value Fund(SAIFX Quote). "Wal-Mart(WMT Quote), for example, sells groceries and products that consumers need every day. And Wal-Mart is the lowest-cost retailer, so they have a tremendous advantage over their competitors." ...