Eni SPA is an integrated energy company, which operates in the oil and gas, electricity generation, petrochemicals, oilfield services, and engineering industries. The gas & power division engages in the supply, transmission, distribution and sale of natural gas. E operates in 70 countries across the globe. Valuation appears good to me currently at about 6.5 times earnings. E developed a strategic alliance with Gazprom, has massive oil reserves, and pays a dividend yield of over 8 percent. 75 percent of E's income comes from Exploration and Production so it has less exposure to refining margins.

Global Infrastructure, mining and agriculture. CAT is a global diversified heavy equipment maker. Trading at 10.5 times 09 earnings. CAT is a core holding for me. I buy when it is under $66 and take some off over 80 and continue to let CAT pay me my 2 percent for holding on to it. When the US goes into a recession or their are recession fears, CAT gets spanked. With growth in the so-called emerging countries, the need to improve an aging infrastructure in the so-called developed world and the servicing of and new parts for their machinery, CAT should continue to do well even if the so-called recession actually occurs. ABB, PWR and CAT are my infrastructure plays.

Corning manufactures specialty glass and ceramics for displays, telecommunications, life sciences and environmental technologies, such as LCD displays, optical cable and connectors, and specialty laboratory equipment. Corning has lots of cash that will help as it faces the economic downturn. Clearly GLW is sensitive to lack of demand in an economic downturn, but discounts and the price pressure will increase acceptance of LCD. As the upgrade cycle for televisions decreases and the average number of displays per person increases, the need for Corning's products will increase.

This is the best house in what is currently a bad neighborhood. IGT is the dominant market-share holder of slot machines and is the industry leader in server-based gaming. Gambling is contracting in the current environment, but this will emerge as a growth story as the cyclical gaming industry returns.

One of my spec plays less than 5% of portfolio 30% increase in revenue from 1Q-06 to 1Q-07, advertising revenue up 6%, but subscription services revenue down 8%. Company's top 5 advertisers account for 36% of revenues in 1Q-07. Valuation is okay, but nothing to write home about. Added to Russell 3000 this year. Lots of shorts on this stock and insiders selling their shares. But this is one of my spec plays, not a value play. Dow Jones paid $450 million for marketwatch.com and there are potential suitors for TSCM such as CNBC, Thomson and NWS. While the pundits would argue that TSCM is a one-trick pony, overly dependent on Jim Cramer; I'm not betting against him. I see real potential value in stockpickr as a value adder. Now, here is my final piece of brilliance...If Rupert Murdoch is successful in his bid for Dow Jones, CNBC will lose that relationship to Fox. So, who else does CNBC have? That's right...TSCM. The other unknown is whether the TSCM's insider shareholders who basically own enough shares to control any vote will allow a merger or acquisition. Bottom line...I'm sticking with Cramer. No offense intended to the other talented individuals at TSCM. The other ultimate truth in my book...if Martha Stewart can build an empire, this one ought to be a universe... Big Poppa...Out...

ABB is well positioned to take advantage of global industrial and infrastructure expansion. If you generate electricity, use electricity, control machinery, or transmit power anywhere in the world, you are a prospective ABB customer. Forward PE is currently about 11.7 and PEG is under 1. ABB, PWR and CAT are my infrastructure plays.

Anglo American is a diversified mining company with operations across the world. Their operations include gold, coal, base metals and precious gems and minerals. AAUK is currently trading at about 4.6 x 2009 estimated earnings with a current dividend yield of 4.3 percent. AAUK is in the midst of a $4 billion buyback with about $2.3 billion left to purchase. It is in a good position relative to its peers.

Quanta is a specialized contracting company, providing design, installation and maintenance of infrastructure for power companies, gas companies, cable companies and telecommunications companies. Long-term demand for infrastructure services in the electric, gas, telecom and cable industries is powered by the need to maintain and upgrade networks, while keeping costs low by outsourcing these services to third parties. As their customers in these industries improve their financial position, their capital spending and maintenance budgets will increase as they move back toward historical levels. The Energy Policy Act of 2005, which promotes investment in aging U.S. energy infrastructure, will help utilities to increase their spending levels to upgrade their power transmission and distribution networks. In addition, several large telecom customers, including Verizon and SBC/AT&T, have announced they are increasing their spending on last mile fiber build-out initiatives such as fiber to the premises (FTTP) and fiber to the node (FTTN). As a result of these efforts, Quanta will experience an increase in demand for its telecom and underground construction services over the next few years. Valuations are a little high at the moment, but this company is in a sweet spot. ABB, PWR and CAT are my infrastructure plays.