But at the time, the Wynn Macau -- Mr. Wynn's latest megacasino -- was just getting set to open just off the coast of China. That's right on the doorstep of some 3 billion potential customers.
Big bets for big paydays
And how has the Wynn Macau fared? Quite well from an operational standpoint, though recent visa restrictions to the island, a slowing global economy, and intensifying competition have caused all of the stocks in the sector to drop.
But Steve Wynn isn't the only billionaire going gaga over foreign markets. Wynn rival and Las Vegas Sands
Entrepreneurs and investors alike
Then there are the master investors who had been buying up Chinese stocks at a rapid clip. Irving Kahn has been building out a position in Nam Tai Electronics
Even Warren Buffett increased his exposure to China recently, with a purchase of battery maker BYD.
The good news is that thanks to recent market volatility, you’ll pay less to buy China today than every before.
The question we have to ask
So -- and you had to know I was coming around to this -- have you been taking advantage and adding international stocks to your portfolio?
If you're looking to do just that, one place I'm set to start is at our Global Gains international investing service. You can see our top stocks for new money now by joining free for 30 days. Just click right here.
This article was originally published on Jan. 19, 2007. It has been updated.