While domestic phone companies battle for market share, non-US firms are building dominant positions in markets considered by many to offer higher growth potential, such as Latin America. And despite their foreign operations, several of these stocks are traded through ADRs on the New York exchange.

John Christy III, editor of the Forbes International Investment Report is a fan of America Movil (NYSE: AMX), the dominant mobile phone company in Mexico, with operations in a dozen other Latin American countries. The company is controlled by billionaire Carlos Slim Helu, the world's third-richest man (following Bill Gates and Warren Buffett).

Says Christy, "American Movil has had a stellar record of growth and profitability over the past five years. With cellular penetration rates in Latin America hovering in the 40% range (versus 90%+ in Europe), there is a lot more room for growth."

The shares have risen 15% since he first added it to his portfolio two months ago, and he cautions that they might pull back. However, he says, "Use dips as an opportunity to scoop up more shares. AMX is trading at less than 15 times next year's consensus earnings forecast of $2.90. With estimated earnings growth running at a 35%+ clip, AMX still looks extremely attractive."

Former Latin students of the world:

Salvete! I have good news!

No, your Latin teacher didn't actually give herself a lethal paper cut on your shoddy translation of Virgil's Aeneid. And, no, your local school board didn't finally decide that Latin was, in fact, "dead enough" to give up on trying to teach it.

But it's almost as good. Earlier today, Warner Bros. movie studio, a unit of Time Warner, announced plans to remake the old Latin class stand-by Clash of the Titans. The original feature film, which follows the codpiece-wearing hero, Perseus, as he fights monsters and Medusa, to save the beautiful Princess Andromeda. Andromeda, in typical princess style, spends most of the movie chained up to a rock, waiting to be rescued by the divinely chartered hero.