Pick: Baidu (BIDU)
Over the past three years the $2.2 billion T. Rowe Price Media & Telecommunications Fund (PRMTX) has soared an annualized 23.5%, vs. 9.9% for its category, according to Morningstar. Behind those numbers is manager Dan Martino, who has put 5.8% of the fund's assets in Baidu, the Google (GOOG) of China. "Search tends to be a winner-take-all business," he says. "And Baidu's market share has zoomed up to about 85%." China's Internet penetration and smartphone adoption are skyrocketing, and Baidu is pushing hard into mobile, with its own operating system, social-networking sites, and app strategy. The hovering threat: China's economic slowdown. Baidu reported a 75% revenue increase in the first quarter and expects high-50s for the second. The stock trades at 18 times 2013 earnings projections, but Martino believes Baidu can deliver if, as he expects, China's economy expands at least 7% a year (anemic by that country's standards). "To own Baidu," he acknowledges, "you have to believe in the economic growth engine of China."
--A.F.
Retirement is different today. So are retirees. Here are 20 destinations to suit both.
