In his latest Forbes.com column, Validea CEO John P. Reese looks at one area of the market that he says should be helped by the recent tumble in oil prices: consumer discretionary stocks.

Reese notes that former Gulf Oil CEO Joe Petrowski recently estimated that the oil price declines will save the average American $12,000 over the next year, thanks to cheaper prices at the pump and for heating and electricity. “Whether the actual number is lower, higher, or right at that $12,000 mark, the main point is this: American consumers should have a good deal more spending money because of cheaper oil.” Reese writes. “That should be good news for the economy and for consumer discretionary-type stocks.”

Reese looks at 5 such stocks that get high marks from his Guru Strategies, each of which is based on the approach of a different investing great. Among them: culinary supply store Williams-Sonoma