This post is part of a special report, Top Picks for 2010, the 27th annual survey in which TheStockAdvisors.com asks the nation's leading advisors for their single favorite stock for the new year. See all 80 stocks listed here.

"My pick for the top stock of 2010 is Gafisa (GFA), a Brazilian homebuilder and developer," says emerging markets specialist Paul Goodwin.

In his The Cabot China & Emerging Markets Report, he explains, "This is an experienced growth company in a country with an excellent economic engine."

Gafisa S.A. is a top homebuilder in Brazil. Over the past 50 years, the firm has constructed over 37 million square meters of housing. This week, the company filed its registration statement to go public on the New York Stock Exchange. It's a mega offering, with 39.7 million shares to be issued.

Apparently, the growth potential in Brazil looks promising. Some of the drivers include: low interest rates, high population growth, low unemployment, and government housing incentives.

The company is geographically diversified – with developments in 35 markets across 16 states. Also, the focus is primarily on premium middle and upper income residential units. In 2006, Gafisa posted $323.2 million in revenues and $21.5 million in profits.

Interestingly enough, one of the company's major investors is Sam Zell, who is the cofounder of Equity Office Properties, which he recently sold for $39 billion to the Blackstone Group. Gafisa's underwriters include: Merrill Lynch & Co., Inc. (NYSE: MER), Banco Itaú BBA and Citigroup Inc. (NYSE: C).

You can find the prospectus at the SEC Web site.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.