Despite economic woes, cash-strapped consumers, and forecasts for a dismal holiday retail season, value investor Charles Mizrahi still sees value for long-term investors in high-end retailer Coach (NYSE: COH).

The editor of Hidden Values Alert explains, "Founded in 1941, Coach has grown from a family-run workshop in a Manhattan loft to a leading American marketer of fine accessories and gifts for women and men.

"Coach is one of the most recognized fine accessories brands in the United States and in targeted international markets. Its modern, fashionable handbags and accessories use a broad range of high-quality leathers, fabrics and other materials.

"The company has created a sophisticated, modern and inviting environment to showcase its product assortment and to reinforce a consistent brand position wherever the consumer may shop.

In his Hidden Values Alert, value investor Charles Mizrahi discusses three rules for "thriving during a panic". This in-depth, common sense review is must reading for serious investors. (For 10 specific stock ideas that meet value investing criteria, see our other post on a Benjamin Graham-type portfolio.)

"Warren Buffett once said, 'You don't know who's swimming naked until the tide goes out.' In the past year the tide was rapidly going out, and it exposed a lot of naked swimmers.

"The impact of the credit crunch continued to find its way into other asset classes. Correlations that investors held dear, namely that price movements in one global market would behave differently than price movements in another global market, became unglued.

"The past year has seen global markets move in lockstep with each other, providing investors no safe haven.

"Investors couldn't even hang their hats on diversification among different sectors. It is during periods of panic that all markets and sectors correlate in the same direction...down. Investors both institutional and retail acted in a similar manner: they froze.

"They began to sell assets, many times without regard to the underlying value of the asset. In order to raise cash for redemptions, hedge funds sold what they could, not always what they wanted.

"When stock market participants focus on the short term, employ leverage and need to liquefy their holdings, the table is set for the value investor.

"Indeed, it is during times of panic that value investors plant the seeds of future market-beating returns. While most investors are caught like deer in headlights as great companies are offered at bargain prices, value investors act.

"Tiffany & Co. (NYSE: TIF), founded in 1837, is a recent buy recommendation from value investor Charles Mizrahi. In his Hidden Values Report he looks at the high-end retailer.

"Tiffany and Co. is a jeweler and specialty retailer whose merchandise offerings include an extensive selection of jewelry (83% of net sales in fiscal 2006) as well as timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories.

"Tiffany was founded in 1837 when Charles Lewis Tiffany opened a store in downtown Manhattan. Today, more than 150 Tiffany & Co. stores and boutiques serve customers in U.S. and international markets.

"The company's key growth strategies are to selectively expand its channels of distribution in important markets around the world without compromising the long-term value of the Tiffany & Co. trademark; to increase sales in existing stores by developing new products.

• Ranked in Top 100 Global Brand by BusinessWeek in 2007 with a brand value of $4 billion (as much as the current market cap).
• Since 2003, TIF has bought back over 23 million shares, or 16% of the shares outstanding.
• Management and insiders own 13% of shares.
• Balance sheet is strong: Current ratio is 3.2 and long-term debt/equity is a manageable 11.5%.

"Overall, TIF is a well-run business, and a price of $34 or lower per share represents a very good value. If TIF can grow earnings at only 10% per annum and maintain a P/E of 15, the stock will handsomely reward investors during the next five years."

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

"I am quite confident that business students in the future will be reading case studies on the battle between Starbucks (NASDAQ: SBUX) and McDonald's (NYSE: MCD)," says value investor Charles Mizrahi.

In his Hidden Values Alert, the advisor explains, "This is a classic case of a castle with a wide moat coming under attack because the attacker believes it has caught the duke napping." Here, Mizrahi shares a fascinating over the "Coffee War."

"As background, in 1982, Starbucks had five retail stores and was selling coffee to restaurants in Seattle, Washington. It was during that year that Howard Schultz signed on to manage retail sales and marketing. After traveling to Italy, he convinced the owners of Starbucks to open a coffee bar.

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 conservative choice for 2008 is The Men's Wearhouse Inc. (NYSE: MW), one of the largest specialty retailers of men's suits," says value investor Charles Mizrahi, editor of Hidden Values Alert.

"Men's Wearhouse stores offer a broad selection of designer, brand-name and private label merchandise at prices 20% to 30% below the regular prices found at traditional department and specialty stores.

"The firm's US operations include 636 retail apparel stores. The brand targets middle- and upper-middle-income men by offering quality merchandise at everyday low prices. In addition to value, the company believes it provides a superior level of customer service.

"The shares outstanding have decreased by 10% over the past five years. In addition, long-term debt/equity is only 9% and it has $135 million in cash and short-term investments on its balance sheet (as of August 7, 2007).

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 'home run' speculation for 2008 is The Buckle (NYSE: BKE), a retailer of medium- to better-priced casual apparel, footwear and accessories for fashion-conscious young men and women," says value investor Charles Mizrahi, editor of Hidden Values Alert.

"The company focuses on personal service, including free alterations, free gift-wrapping,easy layaways, the Buckle private-label credit card and a frequent shopper program. The Buckle operates 350 retail stores in 38 states. Most stores are located in regional, high-traffic shopping malls and lifestyle centers.

"The balance sheet is strong with $157 million in cash and current liabilities of only $56 million. Net profit margin is 11.5%, in line with previous years. The company has no long-term debt, and management and directors own 56.1% of outstanding shares.

"BKE is a good company, and a price of $32 or less per share represents very good value. If BKE can grow earnings at 11% per annum and maintain a P/E of 15, the stock will handsomely reward investors in the next five years."

Although Doug Hughes, Bill Martin and Charles Mizrahi each take differing approaches to stock selection, their latest buys all share several elements. First, while operating in diverse markets, Hawaii, Boston and New York – all three are regional banks.

In addition, all three advisors see their banking bets as value-oriented positions with solid, long-term fundamentals. All three are also buyback and/or takeover plays.

Bill Martin, editor of FindProfit newsletter recommends Valley National Bancorp (NYSE: VLY), which he notes is based in the prime New York City metropolitan banking market.

He states, "VLY has seen its bottom line pressured, primarily due to the flat yield curve. However, there have been no credit issues at very conservatively run VLY, and we don't expect any to develop."

Looking forward, he says, we continue to believe that margins are 'as bad as they will get' for many banks, at least,he notes, for conservative banks without credit challenges such as Valley.

According to Martin, "This means that VLY's bottom-line results should bottom this year and start to improve in 2008."

Meanwhile, he speculatives, "We believe that VLY continues to be a takeout target, as the bank's footprint and under-leveraged balance sheet remains extremely attractive." Further, he states, "With outright ownership of more than 90 buildings in the NYC area, we believe its book value is materially understated."