iShares MSCI Emerging Markets Indx (ETF) (EEM)

EEM has frankly been punished by the US stock market for having no companies that will be hurt by the US subprime banking losses. And, if you look at the 50+ companies that make up EEM's holdings, you'll find that the top 4 companies are definite winners. PBR, its top holding, is one of the best ways to hedge against insane oil prices. The company has proven it has recently found some of the largest reserves in the world. Another major holding is Samsung. If you've been to a Best Buy lately, you have undoubtedly seen Samsung's market saturation. They make the best video monitors in the world and sell them cheaper than almost anybody. Then another top holding is RIO. RIO is expecting EPS growth of about 50% over the next 4 quarters and has a PEG way below 1. Then there is the Russian company GAZPROM, the major natural gas player in the world. Most people don't realize natural gas has returned much more than crude oil year to date. One thing about Gazprom and Samsung is that they really cannot be purchased in the US because they don't offer ADR shares. So really, EEM is your only way to get a piece of the action! Then there is CHL which is technically WAY, WAY oversold. Then there is BRP which has one of the lowest PEG ratios in the entire world stock markets. I've run out of time, but the final point is: realistically, the US isn't expected to even see a recession. A slowdown is already half way over. The world bank and IMF have predicted roughly 5% GDP for the emerging markets for the next year. Add everything up, and you have a strong buy.