Fox sees bargains in several debt-free companies, including Vernon Hills, Ill.-based Zebra Technologies (ZBRA), a maker of specialty printers, which trades around $20 a share. The company has $4 a share of cash, and is expected to earn $1.73 a share this year.

Phoenix-based trucking outfit Knight Transportation (KNX) is another favorite; it trades for $15, and is expected to earn 64 cents in '08.

Tim Call, a portfolio manager with Capital Management in Richmond, Va., sees promise in various financial groups, including insurance. He also likes Principal Financial Group (PFG), a Des Moines-based leader in servicing small and mid-range 401K retirement plans. The company trades for only four times 2009 expected earnings. "Don't look for banks," he says, noting insurers are "in better shape and just as oversold."

When it comes to individual stocks, the managers gave their biggest votes of confidence to Warren Buffett's Berkshire Hathaway (BRKA) and General Electric (GE), to which the Great One recently gave a $3 billion helping hand. The managers also cast their votes for BlackBerry maker Research In Motion (RIMM), whose shares have been decimated this year, and Wells Fargo (WFC), a much-admired survivor among the nation's biggest banks.

When it comes to individual stocks, the managers gave their biggest votes of confidence to Warren Buffett's Berkshire Hathaway (BRKA) and General Electric (GE), to which the Great One recently gave a $3 billion helping hand. The managers also cast their votes for BlackBerry maker Research In Motion (RIMM), whose shares have been decimated this year, and Wells Fargo (WFC), a much-admired survivor among the nation's biggest banks.

When it comes to individual stocks, the managers gave their biggest votes of confidence to Warren Buffett's Berkshire Hathaway (BRKA) and General Electric (GE), to which the Great One recently gave a $3 billion helping hand. The managers also cast their votes for BlackBerry maker Research In Motion (RIMM), whose shares have been decimated this year, and Wells Fargo (WFC), a much-admired survivor among the nation's biggest banks.

When it comes to individual stocks, the managers gave their biggest votes of confidence to Warren Buffett's Berkshire Hathaway (BRKA) and General Electric (GE), to which the Great One recently gave a $3 billion helping hand. The managers also cast their votes for BlackBerry maker Research In Motion (RIMM), whose shares have been decimated this year, and Wells Fargo (WFC), a much-admired survivor among the nation's biggest banks.

Capital Management's Tim Call likes Transocean (RIG), a deepwater driller, because of its cheap valuation and solid growth prospects. At around $78 the stock trades for five times estimated 2009 earnings of $16.14 a share. Morgan Stanley has a $150 price target on Transocean, and expects the well-capitalized driller will be able to expand capacity in a tight credit environment.