Despite the threatened late-inning weakness in 2014, I foresee lots of extra-base hits in 2015, explains growth stock expert Stephen Quickel, editor of US Investment Report.

For starters, the US economy is now in its best shape since the Great Recession and financial crisis of 2007-2008. And it’s growing stronger at a non-inflationary pace.

The so-called federal bailouts of troubled banks and companies, which everyone derided in 2009 and 2010, not only averted disaster, but propelled corporate earnings and stock prices on a surprising five-year winning streak.

Yes, there has been plenty of volatility along the way. But the downturns have been brief, in large part because US stocks are the most rewarding investment vehicles available in today’s low interest rate environment.

Meantime, as American companies push earnings higher, unemployment has been reduced, giving the outlook for consumer spending a boost. Federal Reserve policy is being soundly managed.

And the leadership growth stocks that we favor are doing well—the kind of stocks that offer 20%-plus earnings growth at reasonable P/E and PEG ratios. Here are thumbnail descriptions of our new stock picks:

Valeant Pharmaceuticals International (VRX)

Based in Quebec, Valeant specializes in neurological and dermatological drugs sold on every continent. Its stock, breaking from a 10-month saucer chart pattern, recently regained its $146 high.

Given a rising market, and growth estimated at 27% a year, the $11.60 earnings analyst see 2016 could lift VRX to $232 at a P/E of 20 times earnings.

CBS Corp. (CBS)

With CEO succession in doubt at this multi-media giant, the stock slid from $68 in March to less than $50 in October.

The recent agreement with President and CEO Leslie Moonves to stay on through 2019 propelled the stock back to $153. Still trading 22% off its 52-week high, its 15.5% earnings growth is first rate for a huge company.

Michael Kors Holdings (KORS).

A great stock in 2013, KORS languished from $99 to $69 in 2014. But new interest on Wall Street has pushed it back to $77, with 25 analysts now covering the stock versus 16 a month ago—15 of whom call it a Strong Buy or Buy and nine rating it a hold. The attractions: Earnings growth of 22% a year and an 0.72 PEG.

Mohawk Industries (MHK)

Home furnishings stocks are attractive with the upswing in housing. Highly regarded Mohawk has lifted carpet and flooring revenues to $8 billion and earnings growth is estimated at 19% a year.

Its shares have already run from $125 to $155 since October. Yet the P/E is around 16 times 2015 earnings and the PEG is just 0.87.

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