Concerning top picks for 2008, those assertive investors who can tolerate moderate/high risk should consider Transocean (NYSE: RIG). Transocean is favored here because it fits the investment theme of well-capitalized, experienced companies with long-term global trends in the company's favor. Transocean offers deepwater drilling services in the world's major offshore oil-producing regions, including Africa, Asia, Brazil, Canada, India, Middle East, Gulf of Mexico, and the North Sea -- and demand for drilling services is unlikely to decline in the immediate years ahead. Sell / Stop Loss if you were to purchase shares in this company: $84.

For those in need of a safer, large-cap play, consider Boeing (NYSE: BA), which boasts a solid commercial airline order book. Boeing is expected to win its global aviation battle with European rival Airbus, and in the process, transform flight as the 21st century progresses. Boeing's ace in the ongoing battle? The 787 Dreamliner, a super-efficient aircraft that will give airlines the profit margins they need and passengers the creature comforts/amenities they require in the digital age. Sell / Stop Loss if you were to purchase shares in this company: $58.

DISCLOSURE: Joseph Lazzaro has no positions in stocks. In addition to private real estate holdings, he owns corporate and municipal bonds, and cash certificates of deposit.

Tonight on CNBC's MAD MONEY, Jim Cramer picked three Top Speculative Stocks for 2007. You can access the full stories at the links below:

1) Level 3 Communications (NASDAQ:LVLT). This stock closed up over 6% in normal trading and then traded up yet another 4% after-hours to about $6.20 on his pick.
2) Rite Aid (NYSE:RAD)
3) Savient Pharmaceuticals (NASDAQ:SVNT)

Also, Cramer made six other picks this week for 2007. He gave us three Growth Stocks on Thursday evening and three Value picks on Wednesday.

The Cramer Growth Picks for 2007 in order are:
1) New York Stock Exchange Group (NYX)
2) Apple Computer Inc. (NASDAQ:AAPL)
3) Cisco Systems (NASDAQ:CSCO)

The Cramer Value Picks in order are:
1) Altria Group (NYSE:MO)
2) Goldman Sachs Group (NYSE:GS)
3) Halliburton Co. (NYSE:HAL)

Have a great weekend.

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.

iShares Sweden ETF (NYSE: EWD) is the top speculative idea for 2007 from Nick Vardy, editor of The Global Bull Market Alert.

He explains, "Political revolutions can mean big stock market gains. The Reagan revolution unleashed an era of strong economic growth; ditto for the United Kingdom, Ireland, and Australia, where economic reforms were followed quickly by big bull markets and big profits for investors who got in on the game early.

"Such a political revolution just happened in Sweden, where the Social Democrats were voted out of office. After holding power for 65 of the past 74 years, Swedish voters opted for an economic model that looks a lot more like Maggie Thatcher than Scarlett Johansson.

"The agenda of the winning center-right alliance is to lower taxes, deregulate the economy, and sell state shareholdings in listed companies, which will clear the way for cross-border mergers or acquisitions of listed companies. Investment bankers already have descended on Stockholm.

Great companies and great stocks can be found everyday and everywhere you look. However, sometimes we look but we do not see. How can that be? Sheldon Liber brings a brighter light to illuminate picks for 2007 and beyond. The Home Depot, Inc. (NYSE:HD) is his third of seven for 2007.

The Home Depot Inc. (NYSE: HD) -- Like many of my picks, you will find I look for out-of-favor companies with depressed stock prices and compelling stories, while ignoring most analyst banter. Home Depot has been buying back shares all year, and on December 14, 2006 it announced it would buy back another $3 billion worth -- why? While sales and profits are growing, its same-store-sales have been depressed by the reduction in housing starts and declining home sales in many markets. Its shareholders have been restless and a buyback is a quick way to add shareholder value. It also shows confidence in the current value and supports it at the same time. HD closed yesterday at $39.56.

Starting again with the P/S ratio of 1.05 we find another eye-opener, and it has a below average P/E of 13.66 with an above average yield of 2.31%. Again, we find the ROE, ROA and ROIC all top the P/E: Return on Equity (TTM) 22.98 Return on Assets (TTM) 14.21 and Return on Investments (TTM) 20.7.