By Michael K. Farr, Managing Director Farr, Miller & Washington, CNBC Contributor
NEW YORK ( CNBC) -- Every year for the last five years, Farr, Miller & Washington publishes our ten favorite names for the upcoming year. I own the list personally. I will sell the previous year's portfolio on December 31st and buy the new year's list. Names can remain on the list for more than a year, and therefore will be rebalanced to a one-tenth weighting. There is no trading during the year. In the event that a company on the list is taken over, the cash proceeds or exchanged shares (if a stock purchase) will remain in the account for the balance of the year. Last year's list was defensive, and performance trailed the S&P 500. This list does not represent any offer to buy or sell securities nor does it represent any recommendation to buy or sell any of the names mentioned.
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