"Central Europe & Russia Fund (NYSE: CEE) is a closed-end fund that invests in Central and Eastern Europe, Russia, and Turkey," says global investment expert Nick Lanyi.

In his industry-leading High Yield International, the advisors explains, "The fund's diversification, high yield and top-notch management team make it the best high-income play on the region today." Plus, he adds, "Now is a particularly great time to invest in these regions." Indeed, he remains strongly bullish on Russia, rgardless of any concerns expressed by political pundits regarding Russia's elections.

"The fund's largest country allocation (about 50% of assets) actually is to Russia, not Eastern Europe. I consider that a plus, because it gives investors exposure to Eastern Europe's strengths, but with the valuable ballast of an accompanying investment in Russia's natural resources sector.

"Prominent Russian natural resource firms Lukoil, Gazprom, and Norilsk Nickel account for about a quarter of the fund's total assets. With the prices of energy and mining commodities in a long-term uptrend, a large natural resources stake could come in handy in a volatile market.

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.

"Elbit Medical Imaging Ltd. (NASDAQ: EMITF) -- my top speculative idea for 2008 -- is about to change its name to Elbit Imaging, following shareholder approval," notes Vivian Lewis in her Global Investing Pro. Vivian was the top performer in last year's Best Stocks report, with her selection of DryShips rising nearly 400%.

"EMITF is a subsidiary of Europe Israel (M.M.S.) Ltd., which operates in the construction, operation, management and sale of shopping and entertainment centers in Israel, Central and Eastern Europe, and India.

"The company also owns hotels, primarily in major European cities, and manages and sells hotels through its Elscint Ltd. subsidiary.

"The company is also involved in investments in the research and development, production, and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment, through its subsidiary InSightec Ltd.