In a difficult economic environment, it is often wise for investors to consider stocks in more defensive and relatively recession-resistant sectors. And one such area is food and beverage stocks.

As the long-standing market maxim goes, consumers can pull back on spending for vacations, remodeling, and new cars, but they still need to eat and drink.

In that light, I turned to nine leading newsletter advisors who serve up their current favorite ideas in the food and beverage sector:

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.

International Securities Exchange Holdings, Inc. (NYSE: ISE) is the top speculative play for 2007 from Bernie Schaeffer, technical trading expert and editor of The Option Advisor. He explains, "ISE is an electronic exchange and the world's largest trading venue for equity options (in terms of volume traded).

"About two years ago, the ISE set a precedent when it became the first U.S. options exchange to debut for public trading. ISE has appeared in the earnings confessional seven times since its trading debut in early 2005. On all of those occasions, the firm has either matched or exceeded Wall Street's earnings expectations.

"Since it appeared on the scene, the stock's path of least resistance has pointed higher, although options players remain wedded to the bearish camp. If the stock continues to advance upon new-high territory, a short-covering situation could be in the offing, eliciting an additional source of buying power.

"Analysts are also skeptical; the most recent Zacks information finds that 10 of the 11 brokerages following the stock have named it a 'hold,' leaving one 'strong sell' rating and nary a 'buy' to be found. The skepticism is palpable on this one, making it a solid contrarian play as 2007 kicks off."

To see Bernie's top conservative investment idea for 2007, click here.

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.

Lennar Corp. (NYSE: LEN) is the favorite conservative investment for 2007 from Bernie Schaeffer, editor of The Option Advisor. He notes, "Lennar, one of the largest homebuilding firms in the U.S., is built on a very solid foundation.

"For more than 20 quarters running, the stock has exceeded or matched analysts' per-share earnings expectations. Despite negative earnings revisions and poor housing statistics during the past few months, homebuilding stocks have actually rallied from their July 2006 lows.

"For its part, LEN is back up near six-month highs. It has been a relative-strength leader when compared to its peers in the outperforming ISE Homebuilders Index. Meanwhile, options players are firmly entrenched in the bearish camp. And, nearly 9% of the equity's float has been sold short.

"Analysts are still leery of LEN, as evidenced by the latest Zacks data. Of the 12 brokerage firms ranking the shares, five have awarded a 'hold' rating while two list the stock as a 'strong sell.' A continued upward drive in the shares could spur some upgrade activity, drawing positive attention toward the equity."

To see Bernie's favorite speculative idea for 2007, click here.