By Stockpickr Guest Columnist Doug Hall

Successful investing requires consistently buying stocks that do not reflect the value of the underlying company and then selling them when they do.

Sounds simple enough, right? I mean, Warren Buffett bought Coca-Cola (KO), American Express (AXP) and Wells Fargo (WFC) and just held them until everyone else realized the value (or something close to that).

Many companies and their stocks are out of sync right now. Their growth shows no signs of slowing, yet their stocks are down. A number of companies with very predictable revenues are currently on sale.

And of course, I want to share them with you. Hint: You won’t see a Microsoft (MSFT), Intel (INTC) or GE (GE) in here. But these picks aren’t unknown names, either. Last week, Glen Bradford gave his picks for three stocks that could double. Here are mine:

Industrial battery maker Enersys (ENS), which closed below $30 on Monday, recently reported record revenues and earnings. Revenues are 39% higher this year than last year and are expected to continue to grow. Compare this with an average annual growth rate of 25% over the last four years, and it is clear that the company is accelerating. Next quarter, the company will likely report revenue of at least $573 million, with EPS of 48 cents. That puts the stock trading for a P/E of 18. Buy with a 24-month target of $80.

Recent Russian mischief pummeled Central European Distribution (CEDC), which closed at $65.12 on Monday, putting the company’s stock on sale. CEDC distributes beer, liquor and wine throughout Poland. The company has a two-prong strategy for future growth: first by applying its proven formula in neighboring Hungary and Russia and second by distilling its own tasty formula. CEDC entered the distillation business, purchasing state-owned distilleries. Growth has been hot for the last four years, with revenue growing 30% per year while net income compounded at 59%. The stock trades at 20 times trailing earnings. If it maintains historical growth trends, expect it to reach $180 within two years.

How long can Baidu (BIDU), which closed at $307.25 on Monday, keep doubling every 12 months? Even China’s population isn’t infinite, but so far, Baidu's only scratched the surface. The company provides Internet searching, designed from the ground up, for Chinese surfers. Its past revenues have grown very consistently; simple analysis accounts for more than 99% of the quarterly variations. Next quarter, Baidu's revenues are likely to exceed $150 million, with EPS of $1.50. Even if growth “slows” to “only” 100% per year for the next 12 to 24 months, a PEG of 1.0 means you can double your money -- twice -- over the next two years. Buy with a target of $1,000.

Finally, Caterpillar (CAT), which closed at $69.22 on Monday, is one of the most-global companies on the planet, making parts in over 100 countries. Its tractors build bridges, roads and airports. The company’s revenues have grown 12% per year for the last four years, and there is no sign that the trend will change. Such returns will double your money every six years. Such consistency warrants a higher P/E. Compare Caterpillar with PepsiCo (PEP), a consistent 11% grower that is selling for a P/E of almost 20. Buy Caterpillar today to double your money in 24 months.

Ford (F), Sirius (SIRI) and other standard names dominate the headlines, but it's stocks such as the ones I've featured that could line your pockets. Keep an eye on them.

Full disclosure: Doug Hall owns ENS, CEDC, BIDU and CAT.

Posted on Aug. 18, 2008