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.

"My pick for the best potential gainer for 2009 is Seaspan Corporation (NYSE: SSW), a company that leases container ships to international shipping companies," says Jack Adamo.

In his Insiders Plus newsletter, he offers an in-depth analysis of what he consider the perceived risks and the real risks that have "pummeled" the stock. The advisor explains, "The stock has been pummeled for five reasons, only one of which is valid:

• The whole market is down.
• The Baltic Dry Shipping Index dropped to its lowest level in years.
• Analysts fear shipping companies may default on their leases in a weak economy.
• Analysts are afraid ship lessors will have their ships repossessed by lenders on the basis of falling market values of their ships. Some debt covenants permit that.
• The company has reported horrible earnings the last two quarters.

"Five pretty scare reasons. Why would I consider such a stock? Here's why:

Do you have a good financial advisor? They are hard to come by, from my experience. If you are in business you probably get somebody fresh out of business school (if that) calling at least every other day. I am very cynical about the entire financial industry and think that much of what passes for good professional advice is neither good nor professional. I harped on this a little yesterday in Sunday Funnies: Analysts must have a great sense of humor.

If one were to measure many of our foremost fianancial institutions by how well they manage their own affairs, then most of them would come up wanting. The investment banks, ratings agencies, mortgage banks and even the federal watchdogs have made a poor showing over the past year and we are all paying for it.

Recently I made the acquaintance of a Michael G., who is a broker with a major financial institution that is advising a good friend of mine and seems to contradict my generally negative opinion of the industry. He was the seed that grew into my Precision Drilling Services TR (NYSE: PDS) recommendation and last month I was happy to post Chasing Value: PDS up 75% in Q1, announces distribution.

In my conversation with Mike, Seaspan Corp (NYSE: SSW) was his latest intrigue. According to AOL Money & Finance data, Seaspan maintains a fleet of about 30 vessels. Its charter operations are managed by sister company Seaspan Management Services Limited. Both companies are a part of The Washington Marine Group, a group of companies that focus on marine transportation and ship building.

MOST NOTEWORTHY: Seaspan, Vodafone, Telefonica and 8x8 Inc. were today's noteworthy initiations:

• Jefferies believes shares of Seaspan (NYSE: SSW) are attractively valued at current levels given the company's large modern fleet of containerships and "excellent" earnings and cash flow visibility; shares were initiated with a Buy rating and $33 target.
  
• Vodafone (NYSE: VOD) and Telefonica (NYSE: TEF) were assumed with Outperform ratings at Bernstein, as they believe their mobile growth will be stronger than expected.
  
• Kaufman Bros. believes 8x8 Inc. (NASDAQ: EGHT) is on the cusp of posting sustainable profitability and could be an attractive acquisition candidate. The firm started shares with a Buy rating and $2 target.

OTHER INITIATIONS:

• Goldman initiated Ford (NYSE: F) with a Neutral rating.
  
• Sensient Tech (NYSE: SXT) was started withan Outperform rating and $36 target at Oppenheimer.
  
• Friedman Billings assumed Prudential FInancial (NYSE: PRU) with a Market perform rating and $86 target.

MOST NOTEWORTHY: Novartis, Waste Systems, AirMedia Group, and PAETEC Holding were today's noteworthy initiations:

• Novartis (NYSE: NVS) was initated with a Neutral at Cowen, which cited the company's upcoming patent expirations.
  
• Gabelli initiated Waste Systems (NASDAQ: WSII) with a Buy, as it believes consolidated operations in Florida, increased waste internalization, and continued price increases, should lead to expanding EBIT margins.
  
• Oppenheimer initiated AirMedia Group (NASDAQ: AMCN) with an Outperform, as it believes that the Beijing Olympics will help the company acheive better than expected earnings.
  
• Deutsche Bank initiated PAETEC Holding (NASDAQ: PAET) with a Buy, as the firm believes PATEC is well-positioned to benefit from improving industry conditions.

OTHER INITIATIONS:

• Wachovia started Seaspan (NYSE: SSW) with a Market Perform.
• Needham initiated Memsic (NASDAQ: MEMS) with a Buy.
• Oppenheimer started Intellon (NASDAQ: ITLN) with an Outperform.
• Morgan Stanley initiated Dice Holdings (NYSE: DHX) with an Equal Weight.

On tonight's MAD MONEY on CNBC, Jim Cramer dedicated the night to China. He's not gung ho on Chinese stocks, but he's willing to review some of them. (As a reminder, Cramer said he doesn't like investing in China, he doesn't trust China, and he thinks it is overvalued.) He has forecasted an imminent 8% to 10% pullback any time, because, he says, the market is overheated. After you get that pullback then you can buy the stocks, but he advises not to do so now.

As a reminder, Cramer said he wouldn't cross the river with his charitable trust to invest in China, even if there was a 20% pullback in the market. But Cramer does have some picks; he has three solid steady plays and two speculative stock picks.

The 'solid plays':

• CNOOC Limited (NYSE: CEO) is China's nationalized oil play, the number one offshore, a large player in Indonesia; it is 67% government-owned. Under the production sharing, the company gets the mandatory rights. As long as oil stays high this one is a winner, he thinks. ADR's have a $45 billion market cap; 3% dividend yield.
• China Mobile Limited (NYSE: CHL), says Cramer, is the winner in the Chinese wireless market with 68% of the mobile users in China. The government owns the majority of the company. It has been on hold because of rumors that China Telecom might enter wireless; it has 1.9% dividend; $191 billion market cap.