In this installment of our search for the ten picks for 2010, I will risk my reputation (and money) as I head in a more speculative direction. In Part 1 of this series, I discussed breaking up my potential picks into three categories: "Contender", "On the Fence", and "Out of the Running", until the 10 stocks have been identified.

The following lists the first ten stocks I discussed and the current standing after Part 2 of this series, plus four new stocks reviewed today.

I am the Global Editor at MoneyShow.com and each week I interview an investing expert. This week, I spoke with Vahan Janjigian, editor of Forbes Growth Investor, who discusses how the economic crisis affects his strategy and mentions some good international growth stocks.

Q. Vahan, although you primarily recommend US equities, your newsletter also includes a few international picks, such as American Oriental Bioengineering (NYSE: AOB) and Embraer (NYSE: ERJ). What factors made you choose these companies?

A. I do recommend foreign companies from time to time in the Forbes Growth Investor, but only if they trade on US exchanges and only if they show up at the top of my screens. I rely on a quantitative model that screens stocks based on the probability of out-performance over the next six to 18 months. I like AOB because it sells traditional Chinese plant-based pharmaceuticals in China. Demand is very strong for these natural products in that country. I like ERJ because it gives us exposure to Brazil, which has one the fastest growing economies in Latin America.

Q. Several of your recommendations are US-based multinationals, such as RPM (NYSE: RPM) and Amdocs (NYSE: DOX), both of whom do significant business around the world. How important was their international exposure to your selection, and why?

A: International exposure is not something I normally focus on. Besides, these days most mid- to large-sized companies have at least some international exposure. Because the global economic outlook is so uncertain at this time, I felt more comfortable with companies that have a diversified revenue stream.

American Oriental Bioengineering (NYSE: AOB) manufactures a broad range of prescription pharmaceutical, over-the-counter pharmaceutical and nutraceutical products for the Chinese market, operating from 30 locations in the Peoples Republic. Offerings include treatments for the flu, upper respiratory infections, tonsillitis, incontinence, endometritis, annexitis, PMS and sinus congestion. The firm sells to some 100,000 retail stores, pharmacies, hospitals and independent distributors.

American Oriental surprised the Street earlier in the month, when it reported Q1 EPS of 12 cents and revenues of $38.8 million. Analysts had been looking for 12 cents and $37.9 million. Management also guided FY08 revenues to at least $245.0 million, versus consensus of $227.64 million. The CEO cited synergies from recent acquisitions in support of the optimistic view.