This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

"We own several stocks in our portfolio that are selling for less than their book value and with a P/E ratio of less than 5 -- but the prize among bargains is Teck Cominco (NYSE: TCK), our most promising stock for 2009," says Neil Macneale.

In his 2 for 1 newsletter -- which initially buys stocks when they announce 2-for-1 splits, he says, "It would be hard to argue this company is not literally being given away."

Macneale explains, "I bought this stock for the 2-for-1 portfolio over a year and half ago and its stock price has declined by about 90% since then.

"The Canadian mining company produces copper, zinc, gold, and metallurgical coal. All assets are in North America except for most of its copper operations, located in Peru.

"With a PE ratio bouncing between 1 and 2, and a Price-to-Book ratio at around 0.3, you are getting a well-established (1906), well-run asset play for less than its book value, even if existing plant and reserve values are slashed by over 50%.

Buying only stocks announcing splits, Neil Macneale has developed a leading long-term track record. His latest buy in his 2-for-1 newsletter is biotechnology research products firm Invitrogen (NASDAQ: IVGN).

"Wow, investing today is like riding a ping-pong ball; last month I was feeling quite glum about the market and cautioned that we were in for an extended period of below normal portfolio growth.

"That may still be true, but now, as we go to press, the portfolio is at its all-time high and there is reason to believe most stocks we have picked are going to do much better than the overall market.

"Meanwhile, with splits so few and far between these days, one thing is certain; companies that do announce splits deserve a very close look. Our latest selection is Invitrogen. Its primary business is assembling and selling kits used in biotech research.

"I view this as selling the shovels and tents to the gold miners. During the California gold rush, it was the storekeepers that got rich while most of the miners went broke.

"IVGN is not ideal in that it pays no dividend and carries a moderate amount of debt. However, this is a strong business with a history of good earnings and good growth. The healthcare sector has been on the outs for a while now and it's probably a good time to get a biotech company into the portfolio."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.

"The best thing to do in this market volatility is to take a deep breath and say, 'This too shall pass'," says Neil Macneale, who buys only stock split candidates for his 2-for-1 newsletter. Here is his latest.

"In general, getting out of the stock market at this time would be exactly the wrong thing to do. If 'buy low, sell high' means anything, we should be buying stocks now with whatever cash we can find. Otherwise, the ship will sail without us. Of course, given the exact market bottom is not knowable until after the fact.

"Indeed, new purchases may not be perfectly timed, but we continue to believe that it will be better than not buying at all. And because our policy with our 2-for-1 portfolio is to buy something every month, at least one of our purchases over the next several months will be very close to perfectly timed.