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.

Israeli business site, Globes, ran an article today that summarized a recent Citibank research note. What caught my eye is that instead of publishing analysis on a severely undervalued (IMHO) Israel tech firm, Comverse Technology (OTC: CMVT.PK) or an unheard of diamond-in-the-rough (IMH0), Elbit Medical (Nasdaq: EMITF), this piece was on the take-aways of what's going on in Middle Eastern history in Annapolis, Maryland today.

If you haven't heard the harbingers of peace chirping away, you haven't see the fanfare going on in Annapolis. Everyone who is everyone is there (well, almost). Check out my piece over the weekend about two interesting stock picks as a play on the conference.

Beyond the tongue and cheek surrounding the love fest, Citibank wrote the following about the Israeli economy:
"In the past couple of years, strong domestic economic performance has allowed Israeli markets to shrug off several regional geo-political developments, including the victory of Hamas in the 2006 Palestinian Authority (PA) elections and last year's war in the north versus Hezbollah."

At IsraelNewsletter, we focus on opportunities to find undiscovered Israeli companies. More than 120 Israeli companies trade on U.S. exchanges and even more trade on global exchanges. Most of these companies are small and mid caps, while a few, like generic pharmaceutical giant, Teva Pharmaceutical (NASDAQ: TEVA) are large caps. This provides diligent investors with ample opportunities to make money.

Warren Buffett knows this, and that's why he made his largest ever international investment by purchasing 80% of Israeli metalworks company, Iscar, for $4 billion last year. Buffett said, on his first visit to Israel, that "Berkshire Hathaway (NYSE:BRK.A) and Israel will be here forever, as Israel and the U.S. will be here forever." The Donald (Trump) signed two huge realty deals in Israel last year: a partnership in purchasing a building in Ramat Gan for USD 44 million, and a contract to erect a luxury hotel bearing his name on a sea-side cliff in Netanya.

Israeli companies are hot and many of them are looking for growth internationally. Bloomberg reported this week about international expansion by a few of the leading Israeli conglomerates. The article describes plans by Israeli billionaire Nochi Danker and his firm, IDB, to partner with fellow Israeli investor, Yitzhak Tshuva to invest as much as $8 billion in constructing a Las Vegas casino.