Hello, I fully agree with you about Bulgarian stocks. But among New Europe countries I would put more investments to Ukraine or Romania. <A HREF="http://www.stockweb.blogspot.com/2007/07/economic-growth-in-romania-bulgaria.html" target="_blank">http://www.stockweb.blogspot.com/2007/07/economic-growth-in-romania-bulgaria.html</A> From more developed Central European markets my favourite is Hungary with the lowest PE valuation.