Caveat emptor cash dividends, and interest is king.

Last year the Lehman Aggregate bond ETF (AGG:iShares:Lehm Aggreg BdNews , chart , profile , more
Last: 100.15-0.55-0.55%
AGG 100.15, -0.55, -0.5%) turned in a fantastic 5% vs. a negative 38% for most risky assets, running the gamut from commodities, domestic equities and junk to emerging market equities. A similar level of stability and performance can be expected this year.

Higher risk
On the higher-risk side of the spectrum, Cal-Maine Foods (CALM:Cal-Maine Foods IncNews , chart , profile , more
Last: 20.51+0.04+0.20%
CALM 20.51, +0.04, +0.2%)
and
National Presto Industries, (NPK:National Presto Industries, Inc
News , chart , profile , more
Last: 57.47-2.61-4.35%

NPK 57.47, -2.61, -4.3%) , two small-caps yielding 6-9% should do well. They're defensive businesses with strong balance sheets and attractive ROA's.
National Presto -- which my fund owns -- operates in two segments, defense and housewares. It should benefit from consumer cocooning during the recession. It's one of the most no-nonsense companies I have ever reviewed. They don't make busy with superfluous mergers and acquisitions to retain profits. If they can't use it they send out promptly to investors. This year they have announced $5.55 in dividends for shareholders.
Cal-Maine is the largest producer and marketer of shell eggs in the U.S. Although egg prices do have a high degree of volatility, Cal-Maine has ample room to grow via acquisition and pays an attractive 6% cash dividend from it's pristine balance sheet, which should provide good support in this bear market.
Both are under Wall Street's radar and have the ability to grow from internal financing. Caveat emptor cash dividends, and interest is king.