"Beauty is as beauty does, the saying goes, and Avon Products Inc. (NYSE: AVP) has delivered a beautiful earnings report," says Jack Adamo in his industry-leading Insiders Plus. Here's his latest.

"Despite a 14% increase in advertising (or perhaps, because of it) the company delivered EPS up 26%. In North America, the only underperforming region, revenues continued their slow downward slide. But active representatives increased for the first time in ages, which may brighten the future on the company's home turf.

"International sales continued to soar. Latin America was 19% higher in local currencies, and 32% higher after translation into the American Peso, also known as the U.S. Dollar. In Central & Eastern Europe, first-quarter revenue rose 17% (6% in local currency). Revenue in China grew 29% (19% local). Only Japan dragged things down a bit with its 2% gain.

"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.

"My favorite conservative pick for 2008 is Mobile TeleSystems (NYSE: MBT), the largest cellular operator in Eastern Europe, with 50 million subscribers," says Yiannis Mostrous in The Silk Road Investor.

"The company has licenses in 87 Russian regions, Ukraine, Belarus, Uzbekistan and Turkmenistan, covering a population of more than 233 million people. Russia accounts for almost 80% of consolidated revenue, while Ukraine is the second largest contributor.

"This is a company that offers good exposure to Russia's domestic demand growth. Russia is currently in a sweet spot: It's a net oil exporter, has good GDP growth, isn't dependent on foreign capital flows, is relatively stable politically, boasts reasonable market valuations and, above all, enjoys solid exposure to the biggest growth story of our time, Asia.

"Mobile Telesystems will continue to experience strong growth given the regional economic strength. Its valuations are still reasonable and it actually trades at a discount to a lot of its peers in the emerging market universe. This should make it a stock to own going into what is shaping up to be an uncertain New Year.

"The company's investments in its various markets have started producing positive results and it also continues to consolidate operations while taking advantage of market growth. Buy Mobile TeleSystems up to $110."

I've just returned from the World Money Show, where more than 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.

"Investors in Russia had more than New Year's Eve as a reason to party as 2006 came to an end, notes Ian Wyatt. "The Russian stock market closed at an all-time high, capping a year in which the dollar-based benchmark Russian Trading System index gained 70%."

The editor-in-chief of Big Idea Investing explains, "In most developing countries, such a gain would usually be a sign of speculators gone crazy, and a stern warning to take your money and run before the inevitable collapse.

"But that doesn't necessarily apply here. The MSCI Russell index has soared almost 500% in dollar terms over the last five years. Some of these returns stem from the rise in oil and gas prices, two commodities of which Russia has enormous reserves.

"It's a long way from 1992, when almost overnight the Soviet Union imploded. Fuel was added to the fire by oil prices, which had started a long climb to record levels. From just $8.8 billion in 1998, revenues from oil exports soared to more than $58 billion by 2004.

"Ford (NYSE:F) and Toyota (NYSE:TM) already have car plants in operation, and will soon be joined by General Motors (NYSE:GM). Coca-Cola (NYSE:KO) has made significant investments, and oil giant ConocoPhillips (NYSE:COP) said it plans to almost double its investment over the next decade to as much as $15 billion.