In his latest article for Canada’s Globe and Mail, Validea CEO John Reese takes a look at the stocks of some of the firms behind this Christmas season’s hottest gift ideas.

“The holiday gift-buying season has companies pushing their newest and most eye-catching toys and gizmos and gadgets, with consumers lining up to judge them by way of their wallets and purses,” Reese writes. “A hot new gift item can make or break a company’s quarterly, or even annual, revenue and profit results.”

But Reese says that a hot holiday gift doesn’t necessarily make for a good stock. “Of course, a strong product line isn’t the only thing that determines the success or failure of a company and its stock,” he says. “A firm must also have an efficient and effective management team that can take advantage of in-demand products, a balance sheet that allows that management team flexibility and, last but not least, reasonably priced shares.”

Reese thus uses his Guru Strategies — each of which is based on the approach of a different investing great — to see how the stocks behind some of the hottest gifts stack up. Among the firms he examines: Apple, creator of the iPad, and Deckers Outdoor Corp., whose UGG Australia boots have been a very popular gift this season.