For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite conservative stock for 2008 is Brookfield Asset Management (NYSE: BAM)," says Peter Slatin, editor of the Forbes/Slatin Real Estate Report.

"Here's a company that has it all: energy, timber and, mostly through its 50% ownership of Brookfield Properties (NYSE: BPO), top-quality commercial real estate in highly desirable markets such as London and New York.

"It also holds assets in emerging markets like Brazil, where it just acquired a major retail portfolio; and stable, well-performing Canada, including Calgary.

"Along with its office buildings in that energy and mineral boom town, BAM, which is traded on the New York and Toronto exchanges, also has a hefty stake in the region's vast oil sands.

"The company, with a market cap of more than $22 billion, is currently trading toward the higher end of its 52-week range, and its extremely professional management and well-balanced exposure to some key markets and industries will continue to make it a rock-steady performer in a very shaky world."

MOST NOTEWORTHY: Toronto Dominion, Cytec Industries, Ceragon Networks, Micron and Navteq were today's noteworthy downgrades:

• CIBC downgraded shares of Toronto Dominion (NYSE: TD) to Sector Performer from Outperformer following the Commerce Bancorp (NYSE: CBH) acquisition, as they see integration risks and believes the deal will limit the company's ability to buyback stock.
  
• Cytec Industries (NYSE: CYT) was downgraded to Hold from Buy at Jefferies, as they believe near-term risks to demand and margins could bring a better entry point by 1H08. Target lowered to $75 from $79.
  
• Collins Stewart downgraded shares of Ceragon Networks (NASDAQ: CRNT) to Underperform from Buy on valuation and uncertainties surrounding the stock, which include the NEC infringement issue and increased competition.
  
• Micron Technology (NYSE: MU) was downgraded to Accumulate from Buy at ThinkEquity. The firm is cautious on the sustainability of PC related demand and questions component order levels relative to PC sell through.
  
• Banc of America downgraded shares of Navteq Corporation (NYSE: NVT) to Neutral from Buy following Nokia's (NOK) proposed buyout.

OTHER DOWNGRADES:

• JP Morgan downgraded Companhia Vale do Rio Doce (NYSE: RIO) to Neutral from Overweight.
  
• Goldman removed Johnson Controls (NYSE: JCI) from its Conviction Buy List.
  
• Citigroup downgraded GameStop Corp (NYSE: GME) to Hold from Buy.
  
• Friedman Billings downgraded Brookfield Asset Management (NYSE: BAM) to Neutral from Outperform.

On tonight's MAD MONEY on CNBC, Jim Cramer gave the ultimate recommendation: he called Brookfield Asset Management Inc. (NYSE: BAM) the next Berkshire Hathaway (NYSE:BRK-A) but on more of an international basis. This stock has risen 744% since 1997 and 54% in the last 12 months. The company manages $70 Billion in property, infrastructure, land, and specialty funds. Cramer really likes the CEO J. Bruce Flatt.

This endorsement is sure to to generate some pretty favorable buzz. Brookfield's is based in Toronto, Canada and has a market cap is $22.25 Billion and its P/E ratio is 19.9. This company has been public since the mid-1980's and its largest run has come after a large drop in 2000. This is an aggressive conglomerate that operates in the US. and abroad. Since it has hardly seen any major pullbacks you could argue that it needs one, but the performance and management are hard to argue with. Shares rose 3% in after-hours trading to $39.41 and the 52-week trading range is $25.70 to $43.82.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.

Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Brookfield Asset Management Inc. (NYSE: BAM) is the favorite conservative stock from Gordon Pape, editor of Internet Wealth Builder. He explains, "Brookfield is an international conglomerate with interests in real estate, power generation, and infrastructure.

"Although its headquarters are in Toronto, its major holdings are in the U.S. and include such blue-ribbon office properties as the World Financial Center in New York and the Bank of America Plaza in Los Angeles. All told, the office portfolio holds 65 premier properties in North America and Europe. The company also owns some $1 billion in residential assets.

"On the power generation side, Brookfield has 137 hydro-electric stations in North America and Brazil with almost 3,700 megawatts of installed capacity. The company is also involved in the development of several wind power projects in Canada.

"I first recommended Brookfield's predecessor company, Brascan, back in 1997, and since the share price has increased more than five times. That's a great history, but there is much more to come from this well-managed company. Currently the stock pays a quarterly dividend of $0.16 a share. Buy this one for income and long-term growth."

To see Gordon's top speculative idea for 2007, click here.