"This is another one that's too defensive for this market. In a recession, it does well, but not anymore." ("Mad Money Lightning Round," 4-9-09)

Fans of diversification and hedging will appreciate how Church & Dwight (CHD) sells both Trojan condoms and First Response home-pregnancy test kits -- along with Arm & Hammer cleaning products, Brillo pads and other cheap necessities that belt-tightening consumers can't easily relinquish. But that defensive portfolio and modest debt load have lifted shares to 18 times 2009 earnings, above the 14.5 times for household products, making it tough to argue that Church & Dwight is an undiscovered Procter & Gamble.

Other names Adami thinks have been unfairly punished during this sell-off include Johnson & Johnson [JNJ] Church & Dwight [CHD] and Celgene [CELG].

Church & Dwight (CHD) upgraded at UBS. Rating raised to buy from neutral. Maintains 2008 EPS estimates of $2.85 and $64 price target.

Johnson & Johnson [JNJ] or Church and Dwight [CHD], adds Guy Adami.

That Lightning Round caller in May was sooo right about this one.

Entered long on 8/4/08 at 57.35

Adami also likes Church & Dwight(CHD), which made an all-time high today.

From a recent Mad Money show: "I think this one is cheap. I'd pull the trigger below $60 a share."

12.5%

too expensive