Altria -- A consistently well-managed, shareholder friendly company in an industry -- tobacco -- that, over the long run, has been absolutely despised.

Indymac Bank -- A fast-growing, mid-cap, low p/e stock that pays a sizable dividend, i.e., "the perfect stock." This is a well-managed thrift/mortgage bank hybrid focused on the market for single family homes, "alt-A," "interest only," option ARMs, construction lending and all the other kinds of loans the econo-commentators hate -- an excellent way to play the "housing bubble" hysteria.

Intermec -- a maker of bar code readers and scanners -- talk about boring. I'm not sure quite what else they do, but they sold off all but one division of the company a while back so they can focus on that. RFID, or something . . . I keep waiting for this one to go down -- Whhops, it did -- now I'm waiting for it to go back up.

U.S.T. Corp. -- A maker of smokless "chewing tobacco," another play on the hated tobacco industry -- i.e., all those smokers who want to quit but can't quite go "cold turkey," so they switch to chewing tobacco. Talk about a "socially useful" business. Talk about a "growth opportunity." They also sell wine, contribuiting to the epidemic of alcoholism and drinking related problems in our country. This one doesn't quite fit the portfolio model -- I can't really say it is particularly well-managed. However, the business is so simple, and profitable, that enven the most inapet managers can do it. This one is not for the "politically correct."

General Motors -- Unless you are from Mars, you know that, until Ford started their restructuring, this management was considered the most inept in America. Now that the stock is up 70% from the lows, they can do no wrong. Even though I can't quite say the company is "well managed," or that they make a quality product, I can say that the industry, autos, is hatted, as it should be, given the terrible fundamentals.

Vitesse Semiconductor -- I'll throw this one in as a ringer. It certainly has not been well managed in the past though that may be changing, and the industry, semis, is not quite hated enough to make the cut for this list. But, if they can renegotiate their loans and avoid bankruptcy, the stock may have some upside.

Washington Real Estate Investment Trust -- A massively overvalued real estate investment trust focused heavily on the overpriced Washington, D.C., area. I bought this one many years ago, when the yield was much, much higher.

American Capital Strategies -- A "business development corporation," essentially a bank disguised as a REIT. Used to have a really great yield, now so-so.