How would you invest $10,000 this year?

That's a question posed annually to a panel of investment experts.

A year ago, our pundits were relatively optimistic as most suggested quality U.S. stock investments, along with some shorter-term bonds and global equities.

Having weathered a volatile year with more of the same likely ahead, they are retaining their basic strategies but spreading the hypothetical ten grand among a wider number of investments. Some are increasing risk based on the possibility of economic improvement.

The panel now looks into its crystal ball for the coming investment year:

•Richard Cripps, chief investment officer of Equity Compass Strategies, Baltimore, Md.: "If ever there was a time to be contrarian, it is now. I expect an 'up' year for stocks because, given low expectations, even modest evidence of growth will move the market higher. The U.S. economy is working through the financial crisis aftermath, and we'll have better visibility of Europe in the next six months. Invest $6,500 in a broad market index fund such as the Standard & Poor's 500 Index. Put $3,500 in international, with half in Vanguard MSCI Emerging Markets ETF (VWO) and half in large-cap iShares MSCI EAFE Index ETF (EFA)."

•Sam Stovall, chief investment strategist for Standard & Poor's Equity Research, New York: "I don't think we're going into a recession but I do think the recovery will proceed at half speed. That means interest rates will remain very low. I suggest high-quality companies that have raised earnings and dividends each of the past 10 years. I'd put $1,000 each in McDonald's Corp. (MCD), Altria Group Inc. (MO), TransCanada Corp. (TRP), Royal Bank of Canada (RY), Abbott Labs (ABT), General Electric Co. (GE), Paychex Inc. (PAYX), UGI Corp. (UGI), AT&T Corp. (T) and DuPont (DD)."

*Barbara Steinmetz, certified financial planner with Steinmetz Financial Planning, in San Mateo, Calif.: "We are in for a bit of uncertainty on a number of fronts that will translate to market volatility. Low interest rates will make it difficult to find fixed-income investments. We need to have a cash portion to deploy if things get on track faster than I currently envision. I would place $1,000 in SPDR Gold Shares (GLD), $2,000 in PowerShares Dividend Achievers ETF (PFM), $1,500 in First Eagle Global "A" (SGENX), $1,500 in PIMCO Total Return "C" (PTTCX), $1,500 in PIMCO GNMA "C" (PCGNX), $1,500 in Berkshire Hathaway Inc. "B" (BRK.B) and $1,000 in cash."

•John Rekenthaler, vice president of research for Morningstar Inc., Chicago: "My 2011 theme of steering clear of low-yielding long bonds and emphasizing high-quality stocks didn't work out well but should not be abandoned. The S&P is yielding more than 10-year Treasuries. I recommend $2,500 in Jensen Quality Growth Fund (JENSX), $2,500 in Dodge & Cox Balanced Fund (DODBX) and $2,500 in FPA Crescent Fund (FPACX). I'd add some kick with $1,500 in Vanguard Mid-Cap ETF (VO), then add diversification with $1,000 in PowerShares DB Commodity Index Tracking ETF (DBC)."

•Hugh Johnson, chairman and chief investment officer of Hugh Johnson Advisors, Albany, N.Y.: "I recommend a balanced portfolio half in equities and half in fixed-income securities, primarily through exchange-traded funds. For the equity component, I recommend $4,400 in SPDR S&P 500 (SPY), $400 in SPDR S&P MidCap 400 (MDY) and $200 in iShares S&P SmallCap 600 (IJR). For fixed income, I'd put $5,000 in iShares Barclays Aggregate Bond Fund (AGG). A younger person would instead have as much as 80 percent of the portfolio in equities."

•Paul J. Nolte, managing director of Dearborn Partners, Chicago: "While the year before a national election is generally positive, this one could be dicey as domestic issues and international debt problems dominate. Put $5,000 in DoubleLine Core Fixed Income Fund (DLFNX), which has squeezed return from a tough fixed-income environment. In equities, I'd emphasize the largest, putting $2,000 in Vanguard Mega Cap 300 Growth Index ETF (MGK), $2,000 in Consumer Staples Select Sector SPDR (XLP), and $1,000 in JPMorgan Alerian MLP Index ETN (AMJ), which invests in master limited partnerships in transportation of fuel."

•Mark Salzinger, chief investment officer of Salzinger Sheaff Brock LLC in Indianapolis and publisher/editor of The No-Load Fund Investor newsletter: "Economically sensitive stocks are now better values, albeit riskier, than large, high-quality, economy-resistant stocks. I recommend $3,300 in Market Vectors Brazil Small Cap ETF (BRF), which benefits from Brazil's rising middle class; $3,500 in Cambiar Small Cap Fund (CAMSX), which is well-positioned if the global economy does better than people expect; and $3,200 in FBR Gas Utility Index Fund (GASFX), which has been an outstanding performer benefiting from the advantages of the plentiful U.S. natural gas supply."

•Paul Auslander, president-elect of the Financial Planning Association and chairman/CEO of American Financial Advisors Inc., Orlando, Fla.: "First pay off debt—especially credit cards—and fully fund your company tax-deferred retirement plan, if you have one. Beyond that, I suggest that investors under age 50 put $4,000 in Vanguard Total Stock Market Index Fund (VTSMX), $4,000 in Vanguard Total Bond Market Index (VBMFX) and $2,000 in Vanguard Total World Stock Index Fund (VTWSX). Those over 50 should change the amounts to $6,000 in the bond fund and the remainder in stock funds."