These are the world's greatest income investments

I've been complaining that the stock market is expensive and good ideas are hard to find. Well... at the Value Investing Congress this week, I found two stocks that seem like bargains right now and another I hope gets cheaper. In the May issue of Extreme Value, which comes out next week, I'll have two new picks.

One of them is a brand new World Dominator stock. World Dominators are the No. 1 companies in their industry. They beat competition year after year, and they have pricing power that allows investors to beat inflation.

My new World Dominator pick is the No. 1 brand in seven of the top 10 markets in the world. It's No. 1 or No. 2 in 25 of the top 31 markets. It sells a product virtually immune to inflation, recession, depression... you name it. Management is stellar, and the price is incredibly cheap for such a high-quality business.

Most investors think you can't make a lot of money in a short time with World Dominating blue-chip stocks. But my readers made 53% in a few months on TJX Companies, the No. 1 and No. 2 discount department-store chain. Subscribers made 50% on UPS, the world's No. 1 package delivery company. And they're up 49% in a little more than a year on the world's No. 1 microprocessor company. I think this new World Dominator stock can double within the next three years.

World Dominator stocks are also the world's greatest income investments. When you hold them for years and years, World Dominator stocks are like bonds with coupons that grow. Wal-Mart has raised its dividend every year since it went public. ExxonMobil has raised its dividend every year for 27 years. Automatic Data Processing has raised its dividend every year for 34 years. Procter & Gamble has raised its dividend every year for 56 years.

If you aren't building your portfolio around these stocks, you're probably making a mistake. I'm willing to bet the World Dominators will outperform the S&P 500, the Russell 2000, and the Nasdaq 100 over the next three years. They're the most compelling values in the stock market today. They're also the safest stocks you can own. If you think the market is going to be difficult for the next few years, you should have more money in World Dominators than any other type of stock today.