Reading the newspapers every day should be a money making proposition and not just a method for keeping up with current events, said Matt Towery, author of "Newsvesting."

"By keeping a daily diary, you will see stories that will pop up, they will dominate and they can lead you to the research you need to make money off of the news," said Towery.

Towery is bullish on shares of Northrop Grumman (NOC - Get Report) , which are up 20% in the past 12 months, far outperforming the S&P 500 Index over the same period. He said he originally got into the defense giant's stock after reading about global conflicts in the news.

"The world is on fire. The Middle East is a mess," said Towery, adding that Northrop still has "room to go" even after its impressive run in the past two years.

He is also positive on Altria Group (MO - Get Report) , which is up 20% in the past year and yields 3.7%. He said a lot of people do not realize how important a strengthening dollar was to certain investments like tobacco sellers.

"When the dollar is strong Altria does very well because it does not rely (fully) on overseas sales," said Towery. "Right now we see the dollar weakening a little bit, making this a good time to get a hold of a great company with a great yield that might get cheaper over the short run."

Finally, Towery is a fan of Preferred Apartment Communities (APTS - Get Report) , which is up 12% in the past year and yields of 7.4%. He said it is a well-run company and is a smart play on the hesitancy of millennials to purchase starter homes.

"Millennials are not buying houses," said Towery. "The housing market is too tight. It's very hard to find inventory and secondly they have a lot of student loans and costs that keep them from being able to buy and invest in big houses. They are going toward these upscale rental apartments and rental communities."