If Statoil (STO) has been on investors' minds, it likely would be because the company owns leases in Alaska near the leases owned by Royal Dutch Shell (RDS.A). Nothing like watching a competitor (and sometime partner) ground a rig off Kodiak Island and set off a major regulatory review of all offshore Arctic drilling to raise a few doubts in the market. Statoil apparently had some doubts, too -- the company put its Alaska efforts on a slow track back in September as it waited to see what would happen with Shell's efforts. Which is why I'm not surprised that the recent news that Statoil is going ahead with plans to build an oil terminal on Norway's Arctic coast to process oil from the company's recent discovery in the Barents Sea. (Did I mention that Statoil is a Norwegian company -- in fact, the Norwegian state oil company?)

The Skrugard field, expected to come onstream in 2018, will deliver oil through a 170-mile pipeline to the new terminal. The finds in the Skrugard and Havis fields in the Barents Sea are big enough to be important in themselves -- production from the two fields is projected to reach 200,000 barrels a day. But the finds and the terminal are also an important proof of concept for long-term investors like me who believe that Statoil's experience in the tough environments of Norway's outer continental shelf gives the company an important technology edge in the race to produce oil from Arctic offshore waters of North America and Russia. The stock pays a 4.68% yield. Statoil has been in a modest uptrend since December. (Statoil is a member of my Jubak's Picks portfolio.)

L'Oreal (LRLCY), the world's largest maker of cosmetics by sales, has a huge opportunity in front of it built on management myopia. At a time when companies like Nestlé (NSRGY), which owns 30% of L'Oreal, or Unilever (UL) have already moved deep into emerging markets, L'Oreal remains a laggard. Unilever's personal-care business, for example, gets 55% of revenue from emerging markets to L'Oreal's 37%. The company is sitting on 1.6 billion euros ($2.1 billion) in cash and a 9% stake in drug company Sanofi (SNY). That's plenty to finance a move into the fast-growing cosmetics market in developing economies. L'Oreal's standstill agreement with Nestlé expires in 2014 -- and that's likely to lead to an offer from Nestlé to buy L'Oreal or from L'Oreal to buy out Nestlé. The battle -- or even the speculation that there will be a battle -- will push L'Oreal shares higher. (And in the meantime, L'Oreal seems intent on keeping shareholders happy with a big share-buyback plan.) The stock pays a dividend of 2.04%.

General Electric (GE) is selling its remaining stake of NBC Universal to Comcast (CMCSA) for $16.7 billion. Why is that important to long-term investors? General Electric now has restocked its vault with billions at a time when slow growth in Europe has put very attractive prices on some European industrial companies with technologies GE can use to solidify its No. 1 or 2 ranking in diverse markets. Those technologies include jet engines, turbines, MRI scanners and water-treatment systems. For example, General Electric is spending $4.3 billion to buy the aerospace-parts business of Italy's Avio. Acquisitions of the bolt-on size that CEO Jeff Immelt favors work for General Electric and its shareholders in the long term because GE's scale lets it increase sales for companies it acquires and cut costs. The stock pays a dividend of 3.25%. (General Electric is a member of my Dividend Income portfolio.)

Stryker (SYK) is the most long-range of these long-term opportunities. On Jan. 17, Stryker, a maker of medical devices such as hip, knee and shoulder replacements, announced that it would pay $764 million in cash to buy Hong Kong-based Trauson, a maker of spinal orthopedic products. The move will help Stryker, which gets just 20% of its revenue from emerging markets, jump deep into a Chinese market serving a huge and fast-growing aging population. China's orthopedic market is projected by Frost & Sullivan to hit $2.7 billion by 2015, making China the second-largest market behind the United States. (Japan would be No. 3.) Trauson has about a 7% share of China's market currently and did $81 million in sales in 2012, a 36% increase from the year before. The opportunity here for an overseas player like Stryker is equivalent to the opportunity in China for overseas producers of infant formula and dairy products. Chinese consumers don't trust the safety record of domestic makers of these products, so if an overseas company like Stryker can build upon a reputation for quality and technology and then add the distribution that a local company has in China's first-, second- and third-tier cities, the sales opportunity is huge.

I'd call Stryker fully priced at Wednesday's closing price of $63.80, and 2013 looks like a tough year, thanks to austerity budgets in Europe and cuts in reimbursement formulas in the United States. That's actually an advantage to patient investors, since I think it means that Stryker will probably produce a disappointing quarter or two in 2013 that will present a buying opportunity.

You do remember how to wait, don't you? It's what long-term investors do.

Updates to Jubak's Picks

These recent blog posts contain updates to the stocks in Jubak's market-beating portfolios:

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At the time of publication, Jim Jubak did not own or control shares of any company mentioned in this column in his personal portfolio. When in 2010 he started the mutual fund he manages, Jubak Global Equity Fund (JUBAX), he liquidated all his individual stock holdings and put the money into the fund. The fund may or may not now own positions in any stock mentioned in this column. The fund did own shares General Electric, PulteGroup, Statoil, Stratasys and Yamana Gold as of the end of September. Find a full list of the stocks in the fund as of the end of September on the Jubak Global Equity Fund website.

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