Investments in the bargain bin

Once-in-a-generation sales have sprung up in this crazed market.

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(ticker: PFE)

This drug giant hasn't been immune to what ails the market. Its shares plunged almost 30% in the past year. The silver lining: Pfizer's dividend yield now stands at a hefty 8%, more than double the average of the S&P 500. Of course, when a stock's yield is that generous, the market often believes the dividend will be cut or the share price will continue to fall -- or both. But Pfizer has some strong defenses, says Banc of America Securities analyst Steven Lichtman. The firm boasts a solid balance sheet and sits on $26 billion in cash. And though its blockbuster drug Lipitor is slated to go off-patent in 2011, Lichtman believes earnings from Pfizer's other drugs will hold up well.

NEXT: Triple-A-rated municipal bonds
Last updated December 23 2008: 10:46 AM ET
Data for all charts as of Nov. 24. SOURCES: Bloomberg, Morningstar, Municipal Market Advisers.
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