The company remains on solid financial footing, with $650 million of cash as of late February. While earnings were off 70% in the fourth quarter, bulls think double-digit growth could return by the end of 2010, thanks to the company's leadership position in the Latin American market. The American depositary receipts (KOF) fetch about 7 times the $3.74 a share analysts expect the company to earn this year -- very reasonable, assuming earnings pick up.

Bill Nygren, co-manager of the Oakmark Fund, notes the company's low price-to-earnings ratio -- less than nine, based on his estimates for this year's earnings -- is closer to seven if you exclude the $4 a share in net cash. "Investors, especially individual investors, put too much focus on growth expectations and too little focus on price," he says. The stock is also sporting a dividend yield of 3%, slightly more than last week's quote for 10-year Treasury bonds.

ACE Limited (ACE), one of the largest global players in the field, "is very strong financially, and they have weathered the current environment quite well with a strong balance sheet," says Institutional Capital's Senser. What's more, ACE stands to benefit from AIG's woes by gaining market share and raiding its rival for talent.

"I continue to believe that people are going to want entertainment, assuming the darkness lifts. And that is our assumption -- that the world will go on," says Winters. He calls the company's properties, including luxe resorts in Las Vegas and Macau, the best of their kind. The company is run by gaming veteran Steve Wynn, who owns a big chunk of the stock.

Although EMC is likely to come under more pressure from the recession, its profit outlook seems reasonable right now; analysts expect earnings of 91 cents a share, up from 77 cents in 2008. Even if it falls short of that mark, Coons puts the stock's fair value at about 18, compared with its current price of about 10.

"We look at health-care information technology as a growing trend and really a necessary tool to improve the efficiency and productivity of hospitals," says Manning & Napier's Coons. The market doesn't seem to believe that, with the stock at about 36. But Coons figures the shares are worth $50 or more.

Shares of WellPoint (WLP), the largest Blue Cross Blue Shield managed-care company, have been under pressure for some time. The dismal economy is another factor as more layoffs erode membership in its health-insurance plans. However, Wally Weitz points out that roughly half of WellPoint's health-insurance business is in administering plans for businesses, rather than taking underwriting risk. Result: Earnings are far more predictable. He thinks the company will keep growing regardless of what the government may do. "It's unlikely that the current administration wants the federal government to be the only game in town," says Dave Perkins, an analyst at Weitz's firm. The shares fetch about six times the $5.50 a share Weitz expects the company to earn this year, and he thinks the shares can produce annual returns in the mid-to-high teens for the next few years.

Says Coons of Manning & Napier: "The long-term driver for Google (GOOG) is the push toward online advertising. "We are going to see more and more ad spending moving in that direction." Already, 9.6% of all advertising dollars are spent on the Web, up from 7.6% in 2007, according to eMarketer, a research firm. Further helping Google: It has absolutely no debt. That is a huge plus in any economy.