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

In today's edition, Brendan and Austin discuss one dividend stock they'd buy, and one they'd sell. Brendan is looking at the defense sector, which he may get some flak for because of upcoming defense cuts, but the stock he’s looking at could still be a winner despite sector difficulties.  Austin dislikes one high-fashion retailer for its soft international track record and low dividend payment. 

Of course, the retail sector is bigger than just this one company, and while Ralph Lauren may be a sell, there is a specially profiled stock we believe is an absolute buy. There is astounding growth potential for this company The Motley Fool has dubbed our "Top Stock for 2012." The Fool has compiled a special FREE report outlining this company. In it, you’ll discover the company hand-picked by our analysts that is positioned to be the titan of retail in the future.You can access the report  -- 100% free of charge -- by clicking here. Fool on!