The following video is part of our "Motley Fool Conversations" series, in which, consumer goods editor/analyst Austin Smith and industrials editor/analyst Brendan Byrnes discuss topics across the investing world.

In today's edition Brendan and Austin discuss President Obama's proposal for trimming $487 billion from the Department of Defense budget. Which defense contractors are best positioned to weather these cuts, and can these companies make a comeback in 2012?

Boeing may be able to handle defense cuts better in 2012 than its peers due to its massive commercial aviation business, but a different company is our chief investment officer’s favorite stock for 2012. He’s found one stock with so much promise we’ve dubbed it: The Motley Fool's Top Stock for 2012. The report highlights a company that is revolutionizing commerce in Latin America, and you can get instant access to the name of this company. Thousands have already requested the report, which is free today, but it won’t be forever so click here to access it now.