After years of shrinking, dealing with debt, management turnover and write-downs, GE still has a premier jet-engine business and a premier health-care company, he says. General Electric GE, -2.42% isn’t a company he would have imagined owning back when the conglomerate sported the world’s largest market cap and was an investor darling. “We like Cameco CCJ, +0.78%, we like a lot of the uranium stocks, and we’re once again interested in the gas and oil stocks as prices turn negative.” In fact, he finds a number of commodities undervalued, including copper, natural gas and uranium. “Gold underground is so cheap that we can buy these companies, pay all the money it takes to build the mines, extract the gold, sell it, and liquidation value is well above the stock prices in some cases,” he says. He’s also a big fan of gold miners including Australia’s Newcrest Mining NCMGY, -2.18% and Canada’s Centerra Gold CG, -1.30%, noting that the price of gold GC00, -0.43% has gone up 2½ times over the last 12 years, but the mining index has fallen in half.
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