What's hot and what's not

Three signs that the US is in a recession are: President George W Bush is so concerned about the economy he says the social security surplus isn't untouchable; hundreds of thousands of people have been laid off; and some economists are even starting to say so. Putting together the anecdotal evidence, the chance we are now in a recession is about 70%, I'd say. If that's the case, a lot of companies may report disappointing earnings for the next several quarters. Some of these stocks are vulnerable, selling at a high multiple of earnings and book value (corporate net worth). Highly value...