Buy Low, Stay Nimble ... Barron's Mid-Year Roundtable

Rarely has the backdrop been so lousy. The U.S. is printing money to pay its bills. Europe is coughing up change to pay the neighbors' bills. Oil prices are climbing as the Middle East burns, and gold, that reliable barometer of fear, is rising almost by the day. And yet. American companies are flush with cash. Corporate revenue is growing, profit margins are widening, and stocks -- especially big ones with juicy dividends -- are relatively cheap.