I've just returned from the World Money Show, where some 10,000+ investors gathered to learn about global investing. I had a chance to meet with many of the advisors featured at the show, and I have been highlighting some of their favorite investment ideas. To view all of the stocks featured in this special global report, click here.

"As we head into 2007, some of the songs from 2006 will remain the same, chief among them the thirst for large-cap stocks in the established markets of the U.S., Europe, and Japan," says mutual fund and ETF expert Jim Lowell. "Of those three marketplaces, one stands out as not having participated in last year's global rally; Japan.

"Such a perspective isn't shared by any of its Pacific Rim neighbors or emerging market players, all of which have enjoyed nearly nonstop gains for several years in a row, and most of which are trading at recent or historical highs. Overall, that makes Japan interesting from both a valuation and a contrarian perspective."

Here, the editor of The Forbes ETF Advisor reviews his buy-rated Japan exchange-traded funds:

"Japan, the world's second largest economy, continues to recover nicely from its epic recession. It also continues to benefit from its location. The iShares MSCI Japan Index (NYSE:EWJ) covers nearly the entire market capitalization of the Japanese markets, but the ETF correlates most closely with the Nikkei 225 (Japan's equivalent to our S&P 500).

"Its top holdings include stocks such as Toyota Motor (NYSE:TM) and Sony (NYSE:SNE). Blue chips in the land of the rising sun haven't always risen; but I think there time has come.

Caterpillar Inc. (NYSE:CAT) announced today it plans a new $7.5 billion share buyback over the next five years. This will result in 640 million shares repurchased. Caterpillar is still in the process of completing its previous $6.4 billion buyback plan approved in 2003, which should be completed in a few months, a year and a half ahead of schedule. The heavy machinery maker will then commence the new buyback program.

Sure, just like the company said, share buybacks are a vote confidence in the company. Not only in the company's long-term growth prospects but in its cash-flow generation as well. No wonder then that CAT shares are up over 2% today as investors seemed to agree with management's vote of confidence.

CAT did mention that it will continue to use cash "primarily to fund growth through capital expenditures and strategic acquisitions, maintain well-funded pension plans and consistently increase dividends, with remaining cash returned to stockholders through repurchase programs."

This is exemplified in CAT's statement from yesterday about the company seeking to change the structure of its joint venture with Mitsubishi Heavy Industries Ltd.. CAT wants to increase its stake in the 50-50 venture to taking control of it with a 2/3 ownership.

While Caterpillar was hurt by its cyclical exposure to events in the U.S., especially the slumping housing market, it also has exposure to international markets. Increasing that exposure, especially in growing markets as it tries to do with the Mitsubishi joint venture, is a definite positive.

Cramer seems to agree.