When it comes to tracking down the perfect penny stock listing, there are two schools of thought that come into play. The first relies on hunches and the proverbial hot stock tip from someone we trust; the second relies on news and hard data to figure out which penny stock has the best chance of moving up the ladder. Needless to say, method two often out performs method one, but it relies on patience and the ability to withstand the occasional market hiccup. Here are a few long term investments that have been making penny stock news over the last few weeks.

The first penny stock on our list may have you scratching your head. McGuire Properties (NYSE: MPG) is a real estate company that almost exclusively deals with properties in Southern California. On the surface, warm weather climates like Arizona, Southern California and Florida appear to be the last places in the world you would want to invest in property, but the reality is that these places are simply too desirable to live and work in for people to stay away from for very long. Just like the stock market can only drop so far before the bargain hunters show up and start buying stock en masse, real estate prices in places like Southern California can only drop so far before investors start taking advantage of the current situation, and many in the Los Angeles area believe that prices have hit rock bottom and a buying frenzy is on the horizon. If that's true, a share of McGuire Properties, currently priced at around $4 a share, might be making major penny stock news sooner rather than later.

TransGlobe Energy (NASDAQ: TGA) has been the little oil company that could over the past few years, and with possible expansion of drilling into various offshore regions, the future looks bright for this penny stock that is currently trading at under $2 a share. If TransGlobe wants to guarantee its attractiveness to investors, however, it needs to begin to put significant money towards green technologies, especially if the current administration lives up to its campaign promises and begins to really pour tax dollars towards research.

If you have been looking for a safe area in which to invest, technology companies like Taiwan Semiconductor (NYSE: TSM) are a great penny stock choice. They are one of the biggest manufacturers of chips for electronics all over the world and, like so many stocks in recent months, they have taken a beating that many analysts believe is unwarranted. Will the average businessman be able to tone down their electronics and technology purchases during a time of recession? Most are betting no, which is why this penny stock, currently trading at less than $7.50 a share is currently considered a smart choice.

Finally, there has been much debate in the world of finance about the eventual fate of investment giant AIG (NYSE: AIG). Stock prices have dipped to less than $2 a share, but some investors are buying up huge numbers of AIG stock, believing that once the government loans are paid back, AIG can once again be a force on the world stage. This is a risky investment, no doubt, but the upside here is monumental. As always, invest at your own risk!