An electric utility. Utility stocks are a great core position in a portfolio if you are looking for yield. Pays almost 3%. An economically un-sensitive business. One of the areas where he is seeing new strength. Good defensive position.
(A Top Pick July 12/06. Up 3.7%.) A play on yield. In current conditions, utility stocks are attractive. Has a little dividend and a consistent financial performance. Not a lot of risk.