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 will be highlighting some of their favorite investment ideas. To view all of the stocks featured in this special global report, click here.

One of the most popular sectors among advisors at this year's World Money Show was telecom, and John Christy sees long-term opportunity in two leading cell phone makers.

The editor of The Forbes International Investment Report explains, "Fourth quarter earnings for mobile phone maker Finland's Nokia (NYSE:NOK) knocked the cover off the ball. Net income rose nearly 20% to $1.7 billion, beating analyst forecasts.

"And even though the average selling price for its handsets fell, NOK was still able to boost its profit margins. Nokia is also jacking up its dividend by 16%, and is buying back 4 billion euros worth of stock.

"Growth in the Asia-Pacific region topped 60% -- an encouraging sign that the company's strategy of focusing on emerging markets is paying off. Nokia is also planning to roll out a fresh new line of more than 30 handset models in 2007.

"Compare this to Motorola (NYSE:MOT), which has yet to come up with successful replacement for its popular RAZR phone, missed its latest quarter by a country mile, and is now under attack by activist investor Carl Icahn. I'd much rather own NOK.

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.

Internet Initiative Japan Inc. (NASDAQ: IIJI) is the top global speculation from John Christy, editor of The Forbes International Investment Report. He notes, "Japanese small caps have been clobbered in 2006 -- down about 50% year-to-date.

"The group got hammered by the Livedoor scandal earlier in the year and never got back on its feet. And with blue chips such as Canon and Toyota delivering double-digit gains, there wasn't much need to bother with smaller companies anyhow.

"This should change in the year ahead. International markets have done extremely well across the board and investors are looking for pockets of opportunity.

"In particular, hedge funds have been sifting through the rubble in Japanese small caps. These companies tend to be more profitable, more entrepreneurial -- and much cheaper -- than their large-cap peers.

"IIJI's net income doubled in its most recent quarter on strong demand for its IT outsourcing services. As Japan Inc. continues to restructure, IIJI's expertise will continue to be in demand. At a recent $9, IIJI sells for less than 20 times earnings.

"The company recently moved to the First Section of the Tokyo Stock Exchange, which will boost its visibility with investors. There's still a lot of risk -- IJII has been an extremely volatile stock. But as long as IIJI continues to deliver strong profit growth, there will be plenty of upside."

To see John's favorite conservative international idea for 2007, click here.