"CenterPlate (NYSE: CVP) keeps it profitable by keeping it simple," says Neil George. "And how much simpler can wer get than a hot dog vendor?"

The senior editor of Personal Finance explains, "When it comes down to making ongoing judgments based on knowing as much as we can about particular industries, markets and businesses. And that level of our understanding gets significantly better when the business is basic."

For example, he notes, when we examine a defense avionics company or a bioengineering operation, we're going to have to stretch a bit. But, he suggests, when we get to look at a company selling hot dogs, it doesn't take a collection of engineering degrees to get a good handle on what's what and why we should buy or sell.

And, says George, hot dogs, soda and beer is where Centerplate lives. The company owns and runs the concession stands in 130 major sports parks and entertainment and convention centers from coast to coast.

The advisor explains, "Although some warn that people will stop going out if the economy heads south, the fact is the really golden years for entertainment come during economic tough times. They may not go on big vacations or splurge on big-ticket items, but a day at a park or a night at a concert is always welcome."

"The company doesn't rely on home runs," says the advisor. Instead, he contends, it hits singles and doubles year-in and year-out, with revenues consistently gaining by more than 5%.

Says George, "This may sound anemic compared to some whizbang tech companies, but it's fine by us. We'll take it and the 10% dividend, giving us an average annual return for the past several years of more than 12%. Buy Centerplate under 20."

Each day, Steven Halpern's TheStockAdvisors.com features the latest stock picks and investment ideas from the nation's leading financial newsletter advisors.