Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.
Taiwan-based Chunghwa Telecom Co. (NYSE: CHT) is the favorite conservative idea for 2007 from Yiannis Mostrous, editor of The Silk Road Investor, and author of the recently published book of the same name.
The global advisor notes, "Taiwan remains a political market in the sense that until the unification issue is resolved, there will always be a 'lid' on Taiwan's economic growth. But once the political issues are addressed, Taiwan's market will decisively move higher.
"Although this adds an element of risk to investing in Taiwan, the Taiwanese market could perform well this year as it is one of the cheapest in Asia (eight years of underperformance), is disliked by all, and offers a 3.7% dividend yield. (Dividends are taxed in Taiwan, and U.S. stockholders can use the net amount of the withholding tax as a credit.)
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