Five-Star Manager Finds Choice Stocks in China
China is doing a lot of investing in America, and there's a five-star fund manager with a couple of ideas for American investors -- in China.
Walter Price's Allianz RCM Technology Fund is up 24.4 percent year-to-date, and the increasing role of technology in advertising is one of the reasons he likes the number-two advertising agency in China, Focus Media.
"You have this new middle class in China that companies in the consumer area are trying to reach," Price told CNBC. "Focus Media is the most effective way to reach them: Internet advertising, in-building advertising, and display advertising."
He also likes Suntech Power.
"I think Suntech Power is on its way to becoming the number-one solar module company in the world," Price said. "Suntech is actually a pretty inexpensive stock; it's about 30 times next year's earnings, and this is a company whose earnings are growing about 50 percent a year."
Price owns both stocks through his fund.