"Resource-rich, politically stable and increasingly prosperous, Chile is an attractive play on commodities and growing wealth in emerging markets," explains Mark Salzinger, editor of The Investor's ETF Report.

Chile is also a favorite investment position of Nicholas Vardy, editor of The Global Bull Market Alert, who notes, "Thanks to its fiscal prudence, its lack of a domestic housing bubble, and its sizeable wealth reserves, Chile has weathered the current global economic meltdown better than most countries."

Here, the two advisors assess the longer-term opportunity in iShares MSCI Chile (NYSE: ECH), an exchange-traded fund.

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.

"Don't get scared off by the name at Credicorp (NYSE: BAP), my favorite 'home run' pick for 2008," explains John Reese, of Validea, a quantitative advisor service based on following the strategies of leading market gurus such as Peter Lynch and Warren Buffett.

"While US banks have been floundering amid the credit and subprime crises, this Peruvian upstart has sparkled, gaining 30% since mid-August.

"The holding company's businesses are involved in commercial banking, insurance, and investment banking, and, if subprime's got you down, consider this: Credicorp's main subsidiary, Banco de Credito del Peru, actually grew its mortgage business 8.2% in the third quarter as Peruvians' purchasing power continued to increase.

"What's more, Credicorp's fundamentals are so strong that it's one of just three stocks currently getting strong interest from three or more of my 'Guru Strategy' computer models -- those that I base on the writings of Peter Lynch, Martin Zweig, and The Motley Fool's David and Tom Gardner.