Investors take note: the experts are saying that aluminum is the way to go. More specifically, that’s Dennis Gartman, Editor and Publisher of The Gartman Letter and CNBC correspondent. On a recent broadcast, Gartman told the channel that aluminum is the foundation of the global economic recovery. From CNBC.com:
“Buy aluminum first,” Gartman said. “That’s the best commodity trade out there.”
In an interview with “Futures Now” on Tuesday, the Commodities King said aluminum is not only the best way to play the record run in stocks, but could also be the best proxy for investing in the global recovery.
“Everyone laughed at me when I started buying aluminum nine months ago,” joked Gartman. “You are going to see a larger off take of aluminum going into automobile production. It’s the easiest way to meet EPA requirements for mileage is to make the automobiles and trucks lighter, and aluminum does that relative to steel and you’re going to be selling, we’re going to be selling, everybody’s going to be selling a lot of automobiles for the Chinese.”
Aluminum futures are on a tear this year, up nearly 11 percent, outpacing gold, silver, copper and stocks.
And according to Gartman, aluminum may have even replaced copper as the best commodity to measure economic growth.
So there you have it. If you’ve been wondering how to manage your investments, the experts have spoken: aluminum is the best investment and the best way to measure the status of the global economy. Don’t say we didn’t warn you.