When it comes to making money in Brazil, most investors think of oil, coffee, cattle or any number of commodities that underlie the country’s vast resources. But Irwin Greenstein says grocery chain Companhia Brasil Ads (NYSE:CBD) could be one of the best value buys out there.

The explosive growth of cell-phone subscriptions indicate that emerging markets could rebound in the coming years – giving investors a heads up of impending profits.

International Living’s Ronan McMahon says real estate investors have another opportunity to tap into the booming Costa Rican property market at a basement price. The far South of the country contains some of the best scenery, but it has always been almost impossible to reach. A new international airport and better roads will soon change that. And government limits on new development will send existing property prices will soar.

The brutal market sell-off in emerging markets has led many to doubt their importance in the global economy. But Horacio Marquez says the ‘right’ countries in Latin America will thrive in the New Year. Top of the class is Brazil, but Horacio also sees good opportunities in Chile and Mexico.

Chocolate is one of the world’s best comfort foods. And now the world’s largest bulk chocolate maker might be able to bring investors some relief from the market blues, says Adam Lass. Barry Callebaut AG (SWF:BARN) is planning to start producing in Brazil, where it hopes to tap into a big – and rapidly growing – South American market.

During the Great Depression, a spike in protectionism deepened the global crisis for many countries. Sara Nunnally says greater co-operation between Asian and Latin American states should prevent a similar mistake being made this year. It should also help keep some of these nations out of recession.

Industrialized countries are dropping like flies into recession. So far, emerging markets have avoided the economic meltdown. But that is changing, says David Newman. He says investors should not be tempted by the huge bond yields on offer in countries like Argentina. In today’s climate, knowing you will get your money back is much more valuable.

China’s President Hu Jintao just concluded on a victorious trip Havana on Tuesday – expanding a trade pact that could divert commodities from open spot markets.

Copper prices have fallen off a cliff since June, and not even China’s massive stimulus has bucked the trend. But Sara Nunnally says one Chilean mining firm is still planning a major expansion in production over the coming years. This could mean big profits for the company’s three major financial backers (AAUK, XTA, MITSY)… provided they survive the current commodity slump.

By grabbing $26 billion in private pension money last month, Argentina may have put itself on track for its second debt default in a decade – ironically, the very situation that country’s government had hoped its bit of leisure-fund larceny had hoped to avoid.