BANK OF AMERICA: One key part of the stock market is poised to explode higher. Here's how you can identify those companies and make a killing.

That's right, BAML is calling for a resurgence of high-quality stocks. The firm has even gone as far as to recommend portfolio managers of all types shift into an overweight position on the group.

Historically low stock-market volatility has nowhere to go but up, and buying quality is an effective hedge against increased price swings. Yet while that's helpful, one question still remains: What exactly does high-quality mean? After all, without a hard-and-fast definition, the entire exercise is worthless.

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