Top foreign stocks for 2008

Fertilizer has really been a growth business of late (forgive us). As prosperity spreads across the planet, swelling the ranks of the middle class, agricultural needs are growing too. At the same time, higher energy prices have increased global demand for ethanol, raising corn prices. What's more, as developing countries like China convert more land to industrial use, the acreage left for agriculture is shrinking. All that points to a bull market for fertilizing nutrients.

Canadian producer Potash Corp. of Saskatchewan stands to benefit long-term. "They will continue to see an expanding market globally as the need to feed the world's population grows," says James Gendelman of Marsico Capital Management, who also manages the Harbor International Growth fund. The stock has steadily climbed higher, roughly doubling in the past six months. But analysts expect the company's earnings to soar more than 50% next year. And with inventories low, prices, which have already run up, could climb even further. "Potash pricing can conceivably continue to go up 25% or 30% over the next couple of years," says Gendelman - fertile territory indeed.