James Altucher's Ten Stock Picks for 2010 including Potash Corp., GlaxoSmithKline, and STEC (POT, GSK, STEC)

James Altucher lays out ten quality stock picks for 2010 including Potash Corp. (NYSE:POT), GlaxoSmithKline (NYSE:GSK) , and STEC Inc. (NASDAQ:STEC) which closed Friday at just $11.44 a share.

Great weekend reading by the one and only James Altucher who lists his top stock picks for 2010 at DailyFinance.com (click to read).

WallStNation.com's favorite of his 10 stock picks are Potash Corp. (NYSE:POT), GlaxoSmithKline (NYSE:GSK) , and STEC Inc. (NASDAQ:STEC). Here is what James has to say about those three picks:

Potash (POT): People need to eat. Potash increases the yield of fertilizer. And in an overpopulated world with people moving into urban areas (less farmers feeding more mouths), demand will spike for whatever can increase that yield. Potash's stock is closely correlated to prices of the product Potash. It's worth noting that the stock represents billionaire financier George Soros's third largest position. Goldman Sachs just raised its rating on the the stock, saying "Investors are likely underestimating the 2010 US demand recovery that could see staggering yoy [year-over-year] percent increases in volume given the depth of the 2009 reduction and the atypically weak fall consumption levels."
 
GlaxoSmithKline (GSK): Warren Buffett holds this pharmaceutical stock. It trades for 12 times forward earnings and offers a 4.7% dividend. Demand for its health care products will only go up with an aging Baby Boomer population.
 
STEC (STEC): The maker of solid-state drives has $130 million cash in the bank, no debt, a $650 million market cap, and trades for just six times forward earnings. The stock collapsed in November when it announced that EMC had an inventory glut of STEC's SSD product. In other words, EMC ordered too much. Since EMC is the company's largest customer, it threw into doubt its earnings expectations. JP Morgan's analyst came out and said he still sees the company earning $2 per share in 2010 and put a $42 price target on the stock. Not bad for a $12 stock.

The Ten Tickers Alone are the following for your cut & paste convenience: AGO, WCG, POT, CSH, BDX, HI, NZT, STEC, ALVR, GSK.

Altucher's Article -- Ten Stocks for 2010 at DailyFinance.com (click to read).