Probably best of breed of large-cap companies. Good balance sheet, great dividend and good growth profile. In the next little while they're going to have to spend a ton of money upgrading facilities and ports. There is slowing Chinese demand. On the positive side they are getting into the energy business, which is currently about 30% of earnings. You might want to wait for an Australian dollar pullback and perhaps slightly lower commodity prices. If you get it a good entry point it could be a good long-term hold. 3% dividend.

If you can find a good quality telecom and hold it over time, GDP growth is about 2% and the telecoms find a way to take 2% of your wallet. Reasonable dividend. Good balance sheet. Reasonable growth profile.

The big driver for the drop in price is effectively the issues in Spain. High unemployment, very competitive market and Vodafone has been effectively putting the boots to them. Company cut its dividend. Longer term he doesn't think the story is going to end really badly. If Spain can stabilize and growth in Latin America continues you can get some growth. Would wait 12-18 months.

Emerging market exposure. It effectively builds a portfolio of assets, builds them up, sells them off and monetizes assets. Its biggest stake is 44% of Verizon Wireless (VZ-N), which just recently paid its 1st dividend. Margins in India are very skinny but Africa is quite large growing market. Slow growth story but you get big dividends.

Is the 9.5% dividend safe? If there is a decline in the currency, it could be affected. Recently spun off Corus (?) division, which was a one time special dividend, which created a significant spike. Going forward, it will follow the Australian telecom space and bring a broadband network out.

There are some issues happening with regards to the shipping industry. On the container side you have overcapacity. 2010 was a record year but 2011 was a very poor year and you are generally starting to see freight rates climb. There are others that he would prefer.

(A Top Pick Jan 30/12. Down 8.09%.)