What are some other safety stocks?
Bernstein: I own Procter & Gamble (PG ). It’s not as defensive as a food or supermarket stock. It has some broader appeal in growth potential overseas. Scott: PepsiCo (PEP ) will do well regardless of the economy, and it is a growth story. Its opportunity is international. Now most of their profits are from North America. They have an edge in noncarbonated beverages, such as water and sports drinks, with Aquafina and Gatorade. Bernstein: Some people would call Consolidated Edison (CE ) a boring utility, but not me. It yields 5% and has strong cash flow. You could get some price gain, too. BellSouth (BLS ) yields 4%. It is part of the most hated stock group in the entire world, large-cap U.S. telecom. Their earnings are growing with reasonable certainty, just not as much as people thought five years ago. Williams: Rich, chasing yield is one of the biggest mistakes I made this past year. It is tough for companies that don’t have good earnings growth to increase dividends. You’ve got thre
