HOW TO INVEST IN 2009

Prem Watsa, chair of Fairfax Financial Holdings, thinks equity markets might still have a long way to fall before hitting bottom. However, if you have no stomach for risk, remember now is a good time to deleverage yourself. Paying down credit lines, loans and mortgages offers a guaranteed and relatively healthy return. Opportunities clearly exist, especially in Canada, which the IMF expects to outperform the developed world. Nandu Narayanan -- whose CI Global Opportunities Fund in New York has done very well this year predicting the turmoil -- is also bullish on the Great White North. Consumers may stop shopping, but they'll still get sick and old. US health-care expert Collins Jones, says the first real revolution is going to come in the form of diagnostic products, such as the ones offered by Genenews, based in Richmond Hill, Ontario. Also, vices are hard to give up, which is why sin stocks have long been considered safe bets.