Tim Hanson had found an ideal stock to recommend. The advisor of Global Gains had run his screens, investigated potential demographic tailwinds, and even figured the expected beverage consumption per capita in a number of regions to discover that people in Russia and Nigeria are about to realize how thirsty they are. From there, it was an obvious jump for the international man of mystery to see that Coca Cola Hellenic (NYSE: CCH) was perfectly positioned to profit on this under-recognized trend. Because while the company sure sounds Greek and is, in fact, based in Greece, it serves those emerging markets and their ever-rising middle classes with an array of beverages.

Unfortunately for Tim and team, the Greek market got an unexpected boost as a result of swirling talk of debt restructuring, and Coca Cola Hellenic shares jumped more than 15% in January on that tangential news, removing Tim's margin of safety for the investment. He still thinks shares are undervalued (he believes they're worth $30 to $32), but not nearly as much as they were when he penciled in the pick. He's waiting for things to calm down again in Greece in order to get exposure to all those thirsty Russians and Nigerians.

Meanwhile, he's hoping for some bad news out of China to give him a better entry price for Canadian National Railway (NYSE: CNI). No, really, they're connected. If the Chinese government raises its interest rates, it could put a hurt on commodities investments globally, including the companies that move them around the world.

Canadian National Railway has proven more stable over the years than many in the industry. While its share price would take a hit from such news, that would provide an entry point rather than a reason for concern. The company's most recent results showed growth far ahead of analysts' expectations, and it's recently raised its dividend and repurchased shares. Tim thinks the company's worth $70 to $80 per share and -- without even intending the train-related pun -- vowed to keep track of it on his watchlist.

The third company Tim's watching is down, surprisingly enough, because of things the company actually did. Johnson & Johnson (NYSE: JNJ) has been dragged down by its product recalls. But the company's been here before, and a postrecall lull has always proven to be a good time to buy. Additionally, J&J is circling a potential purchase of Smith & Nephew (NYSE: SNN), a provider of medical products that meet the needs of an aging population. Tim feels that company would be a nice addition for the vast and diverse stalwart that Tim describes as a mini health-care mutual fund.

Tim's got his eye on all three of these companies as potential investments, and you can do the same -- just go to www.MyWatchlist.com or click on one of the links below to start your own free watchlist today.