“Every time I travel to Asia, I’m on the lookout for new ideas; on my latest trip I found that one of the oldest stocks in our portfolio is still one of the very best,” says Tony Sagami.

In his Asia Stock Alert he explains, “I’m talking about New Oriental Education (NYSE: EDU), which provides English language education classes in China.” Here’s his update.

“I had previously attended New Oriental classes in Shanghai and Shenzhen before, but I had never visited its home office in Beijing.

“In general, I find I learn a lot more when I’m in the field instead of office visits — but that absolutely wasn’t the case this time.

“I was in Beijing during the Olympics, so I expected the New Oriental classes to be lightly attended, if not empty. Boy was I wrong! Every class that I poked my head into was packed to the rafters.

“The registration desk had a steady stream of student signing up for new classes hroughout the day. One excited new student I talked to said it took him three years to save up the $1,800 RMB (about $260 U.S. dollars). That’s what I call committed customers!

“New Oriental’s bookstore was just as busy as the registration desk. The most popular books were Chinese versions of SAT, GRE, GMAT, and TOEFL (Test of English as a Foreign Language) preparation guides, as well as college-specific books.

“Meanwhile, the company hired veteran U.S. investment banker Joseph Kaufman to head its Business Development (acquisition) department. New Oriental has rapid organic growth, but it’s now going to supplement that with accretive acquisitions.

“I’ve been in the investment business for almost 30 years, and even after traipsing around Asia for years, New Oriental is still the most exciting business I have ever run in to.

“If you could only buy one stock in your lifetime, this is the one to own. And I’m even more convinced of that today than ever. So, if you are not on board yet, I recommend that you buy.”