Sunday Morning Coffee

Long time readers will know my interest and curiosity is looking at companies from off the beaten from all sorts of investment destinations. Below is a list of companies that I have either read about before, done a little study on or otherwise checked out.

Many of the names will be unfamiliar but you probably know at least a couple. Marc Faber just mentioned Thai Tap Water this weekend in Barron's but he has mentioned it before. He said it has been doing well and it yields 7%. Unfortunately it trades in the US for pennies so it would be difficult to trade but that does not have to be the point of this exercise.

Financials Bank of Cyprus (BACPY) Cyprus--if you'd ever want to invest in Cyprus this is the big bank

Technology Tieto (TCYBF) Finland-- IT consulting kind of like EDS which was acquired

Healthcare Parkway Holdings (PKWHF) Singapore-- owns hospitals involved with medical tourism

Energy Ecopetrol (EC) Colombia-- big oil in Colombia

Industrials Vestas Wind (VWDRY) Denmark-- you probably know this is a big wind turbine manufacturer

Staples Blue Square (BSI) Israel-- grocery store in Israel

Discretionary Fisher & Paykel (FPAHF) New Zealand-- an appliance company making refrigerators and washers and dryers, at least they did when I visited in 2005

Utilities Thai Tap Water (TTAPF) see above

Materials Kazakhmys (KZMYY) Kazakhstan-- rights to resources in Kazakhstan, primarily listed in London but the story is complex

Telecom Maroc Telecom (MAOTF) Morocco-- this one was also mentioned in Barron's yesterday and previously. The primary listing is actually in Paris.

The point obviously is not to buy any of these but there is a bigger picture point that can tie in to a core and explore type of strategy. Someone out there is an expert on Morocco, so if that is you and you want a narrow based portfolio then why not a telecom ETF combined with Maroc Telecom? Ditto a utility ETF and Thai Tap Water or a toll road from some place or something else.

A portfolio with two or three things like this that have been properly researched and bought in moderation will not destroy anyone. I continue to believe that US based investors will need more exposure to foreign and if the idea of avoiding Big Western Europe and Japan continues to be correct and you don't want to put it all into Australia then maybe one or two of the destinations above need to be added in.

About to go on a long hike so that means a short post.