Great companies and great stocks can be found everyday and everywhere you look. However, sometimes we look but we do not see. How can that be? Sheldon Liber brings a brighter light to illuminate picks for 2007 and beyond. Huaneng Power International (NYSE:HNP) is his fourth of seven for 2007.

Huaneng Power International ADS (NYSE: HNP) Yes, I know you have heard me push this stock before. If you regularly read my stories you have heard it many times. This is one of my favorite companies and, unless something changes, it will remain so for the rest of my life! It is particularly attractive in a Roth IRA where you can collect the dividend tax free. So lets start with the yield of 3.44%, that's nice. Add to that you have some foreign exposure, but through the NYSE. Now consider it is the largest power company in the largest, fastest-growing market.

Need more, Barron's (my favorite read) gave me another reason to examine HNP for investment, although unwittingly. The magazine wrote an article highlighting several Chinese REITS that have done extremely well and suggested the sector has plenty of room to run for years to come. Well, these REITS are all listed on the Hong Kong exchange. That is a place I do not feel comfortable doing any trading for the time being. I also do not feel I have enough information to distinguish one from another, despite Barron's worthy attempt to educate me. But consider this: no matter whether one or all continue to develop properties successfully and make tons of money, they will all need power. HNP is most likely to be the provider of that power.

China has so much to do in the next 30 to 50 years in expanding its economy, that HNP seems solid even if you overpay now. Since I started proclaiming this as a must-own stock it is up over 40% in real terms and much more on an annualized basis. The shares have climbed so much (you can't see it but I'm taking a bow, thank you very much) that I must express a word of caution. I bought in at $26.35 and it closed at $36.35 last night. This remains a stock to own but the entry point is harder to know, so I am going to recommend you dollar-cost average and buy shares on a periodic basis, so that in the long run, you are on board this train, even if you do not always get a short-term bargain. It is at an all-time high and that is not usually the best time to buy. But we are not trying to time the market, just appreciate it over time. (Read the Company Profile.)