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    Bulls & Bears

    This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital managing partner; Pat Dorsey, Morningstar.com director of stock research; Tobin Smith, ChangeWave Research editor; Scott Bleier, HybridInvestors.com president; Charles Payne, Wall Street Strategies CEO, and Cheryl Casone, FOX Business correspondent and host of "FOX Business Now" on Yahoo! Finance.

    Trading Pit: Will Stocks Do Even Better in 2007?

    2006: An historic year for the Dow as blue chips hit all-time highs again and again, gaining over 16-percent on the year. But could 2007 be even better?

    Charles Payne: 2007 will be better. There is a lot of value in the market right now, and I think 15,000 is a reasonable target for the Dow next year. Large caps are going to come out the gate faster than other classes of stocks in part due to the uncertainty about the economy and the Fed and also because these stocks are still very cheap.

    Gary B. Smith: No, I think 2007 will be a fairly flat year. I think the market comes down a couple thousand points before we rally and reach old highs, but not make much headway after that.

    Tobin Smith: 2007 will certainly be better due to the start of a huge multiple technology upgrade cycle. And the Fed will cut short-term rates. I thin think the Dow will go up 1,000 points, but the Nasdaq will have an even better year.

    Cheryl Casone: 2007 will not be as good as 2006. The Fed will not cut rates in the first half of the year. And the economy will continue to tread water through the first half of 2007. Plus, inflation isn't going anywhere. We will see an earnings growth slowdown next year.

    Pat Dorsey: The Dow is fairly valued with a decent yield. I don't see any super gain for next year, but the Dow should continue to outperform the Nasdaq and S&P.

    Scott Bleier: 2007 will not be better. In fact, I think it will be worse. After a strong start, we will finish the year flat.

    Best Thing for Wall Street: More CEOs Like President Ford?

    Charles Payne: Yes corporate America would be much better off with guys like President Ford. It's not just his skill at handling the mess but his manner—which was less about hype and more about getting the job done.

    Pat Dorsey: President Ford did something unpopular, but necessary. We need a few thousand more guys like that. More CEOs need to do the right thing for the long term, meaning, it might ding quarterly earnings, but will create lasting shareholder value.

    Tobin Smith: What was great about Ford was that he did what had to be done when it was not easy.

    Cheryl Casone: I've heard it said that Gerald Ford was a nice guy, but probably too nice a guy.

    Business is a tough environment and you have to be able to make decisions and take actions that don't feel so good, but are good for business.

    Gary B. Smith: This is a good question. Ford put the long-term needs of the country (his company) in front of the short-term desires of his shareholders (who wanted Nixon's head). That's a very tough decision, but probably what companies need, despite how Wall Street reacts.

    Scott Bleier: Only after a problem do companies need a man with an impeccable ethical standing like Ford. Companies that want to make big money need a CEO like Nixon—aggressive and paranoid!