For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.
"My favorite aggressive idea for 2008 is an exchange-traded fund, the New Ireland Fund (NYSE: IRL)," says Carl Delfeld, president of global investment advisory firm Chartwell Partners.
The advisor explains, "New Ireland Fund is a position in Chartwell's Country Rotation Portfolio. It has been hit hard lately due to concerns about Ireland's real estate slowdown and banking concerns.
"During the last month it has lost 30% and is trading at $22 compared to a 52-week high of $38. The top two companies in the fund are CRH PLC at 16% and Irish Allied Bank at 15%.
"The other holdings are fairly evenly distributed. Markets have overreacted leading to very attractive entry point for more speculative investors."
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Reader Comments (Page 1 of 1)
12-24-2007 @ 2:44PM
George Regnery said...
I don't know how you're computing your numbers, but IRL hs not really lost 30% in the past month.
IRL closed on Friday at $19.45 per share: on November 21, it was $20.20. True, it was as high as $27.38 on November 13. However, on November 8, IRL declared it would distribute $5.22 per share on December 28th to shareholders of record on November 16. So if we take the $27.38 price on Nov 13th and compare it to the $19.45 price today, but add the $5.22 per share that we'll get at the end of this week, you'll see that the stock has gone from $27.38 to $24.67. Not the right direction, sure, but not down 30% either.