The following video is part of our "Motley Fool Conversations" series, in which consumer-goods editor and analyst Austin Smith discusses topics around the investing world.

As part of our series "3 Reasons to Buy/Sell," Austin plays devil's advocate to the Wal-Mart bears and gives investors three reasons to consider buying Wal-Mart today. In his opinion, the company continues to be a best-of-breed operator that effectively wrote the book on supply-chain management and operational efficiency. Its operations require a scale and expertise that will always be hard for other retailers to imitate. He also thinks the company is cheap and reliable. From a valuation standpoint, Wal-Mart is the cheapest it's been in years and has continued with its shareholder-friendly dividends and share repurchases.

In fact, Wal-Mart's dividend is so good it was selected for our list of "9 Rock-Solid Dividends." You can learn about the other eight companies that made the cut and that like to line your pockets with cash by clicking here to read more.

Austin Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.