Stock-Picking Through the Rubble  Charles Bobrinskoy of Ariel
Capital Management has some essential questions to ask about the
economic climate, its effects on stocks, and the scope of
bargains: How bad is the news? How bad did we expect it to be?
But beware of generalization.  "It's hard to make that call for
the overall market," he told CNBC. "What you have to do is pick
through the rubble of 2008 and find out individual companies
where the negativity is too great. Some big banks, maybe the
negativity is not big enough."   So where is it big enough?  "In
some consumer companies, and some branded companies, there's
plenty of bad news baked in," he said.  Such as?  He likes Dell.
"(Dell) is trading at about three and a half times EBITDA, just
ridiculously cheap," he said.  Then there's Constellation
Brands.  "A lot of people don't know the company," he said.
"It's right up there with Gallo as the biggest wine company in
the country, and the stock is under ten times earnings and a
great growth business."  Als