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In the past few weeks, the U.S. media hype into the Facebook (NASDAQ:FB) IPO went into overdrive. Investors were bombarded with every little bit of information about the company and its young and now wealthy founders. Only Wall Street bankers, company founders, venture capitalists and other investors who acquired shares in the secondary market will make money, while the rest of the most retail investors will lose with this IPO.

The entire Web 2.0 and the social media industry that is spawning a variety of companies is a simply a fad. Playing games online all day or writing worthless updates on a Facebook wall every two minutes is not productive use of one's time and definitely does not make our lives better.The general public will eventually decide to ignore these latest hi-tech fads and their over-priced stocks.

Investors are better off to steer clear of all these technology companies that are brought public by Wall Street and yield-hungry venture capitalists.While in the past, Silicon Valley venture capitalist firms used to fund high quality innovative companies, today the majority of the VC firms' sole aim is to make money the fastest way possible and move on to the next hyped-up startup.

Instead of chasing the latest silly and meaningless ideas like greedy VC firms do, smart investors may want to invest their hard-earned money in companies that actually make products or offer services that helps the society live better. One strategy is to select companies that hold leadership positions in their respective industries.

Generally these companies have been around for a long time and strive hard every day to maintain their edge over the competition. While there are thousands of such world-class companies, ten are listed below for consideration. As the market continues to take investors on a roller-coaster ride everyday, one can add these stocks to their portfolios in a phased manner and hold them for the long term.

1.Company: BASF AG (OTCQX:BASFY)
Current Dividend Yield: 4.53%
Country: Germany
Investment Rationale: The largest chemical maker in the world.

2.Company: ABB Ltd (NYSE:ABB)
Current Dividend Yield: 4.20%
Country: Switzerland
Investment Rationale: A leader in power and automation technologies.

3.Company: LaFarge (OTCPK:LFRGY)
Current Dividend Yield: 3.79%
Country: France
Investment Rationale: One of the top cement makers in the world.

4.Company: Linde AG (OTCPK:LNEGY)
Current Dividend Yield: 2.09%
Country: Germany
Investment Rationale: A leading supplier of industrial, process and specialty gases.

5.Company: Nestle SA (OTCPK:NSRGY)
Current Dividend Yield: 3.65%
Country: Switzerland
Investment Rationale: The world's biggest food company.

6.Company: Autoliv (NYSE:ALV)
Current Dividend Yield: 3.29%
Country: Sweden
Investment Rationale: One of the top integrated automotive safety system suppliers.

7.Company: Empresa Nacional de Electricidad (NYSE:EOC)
Current Dividend Yield: 4.10%
Country: Chile
Investment Rationale: One of the largest electricity generating companies in Latin America.

8.Company: Teva Pharmaceuticals Ltd (NYSE:TEVA)
Current Dividend Yield: 3.06%
Country: Israel
Investment Rationale: The world's largest generic drugs maker.

9.Company: Diageo (NYSE:DEO)
Current Dividend Yield: 2.77%
Country: UK
Investment Rationale: The world's largest spirits maker.

10.Company: Novo Nordisk (NYSE:NVO)
Current Dividend Yield: 1.74%
Country: Denmark
Investment Rationale: Leading global diabetes care company.

Note: Dividend yields noted are as of May 23, 2012.

Disclosure: Long ABB, OTCPK:LFRGY.

Source: Forget About Facebook And Buy These 10 Foreign Stocks