Best stocks for new money

Morningstar asks its stock managers for new investment ideas, and Citigroup comes back as a top choice.

By Kim Peterson Mar 15, 2010 2:33PM
Find hot stocks © Digital Vision / Getty ImagesMorningstar has come up with a list of the top 10 stocks for new money -- a task that seems nearly impossible in this crazy market.

The idea was to find stocks where Morningstar managers have put new money to work. As it turns out, the firm's managers continue to overweight financials. One manager liked Citigroup (C) so much that he plowed 6% of his fund in the stock.

In fact, Citigroup leads the list of top new money purchases at Morningstar, although the firm admits that the stock's fair value uncertainty is "very high."

Here are the rest of Morningstar's top 10:

No. 2: Qualcomm (QCOM)

No. 3: Bank of NY Mellon (BK)

No. 4: Aon (AON)

No. 5: Merck (MRK)

No. 6: Clorox (CLX)

No. 7: Barrick Gold (ABX)

No. 8: Vodafone (VOD)

No. 9: Pfizer (PFE)

No. 10: OccidPetroleum (OXY)



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