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Go Overweight Uranium and Fertilizer, Underweight Commodities and Base Metals - RBC

Obama's nuke disarming is a major concern. He could single handedly kill Uranium mining investments--and maybe already has--through additional downblending of Russian weapons grade material ( Megatons to Megawatts Part 2).

Regarding GE's announced interest in recycling spent fuel (US had the lead until Jimmy Carter cancelled the program in late 70's), this is basically a replication of what AREVA is currently doing in France. The technology is definitely proven --- but don't count on GE. In the 70's GE designed and built ~40 % of the world's operating nuclear reactors-- they were pioneers. While I prefer PWR technology (Westinghouse in particular), GE was a major force in the industry with highly regarded engineering and technical expertise. Post TMI they pretty much abandoned nuclear power and let the French and Japanese take over. GE was more content to "diversify" into financial deals, credit cards, movies, television stations, etc. GE technology became a step child. The current nuclear "renaissance" is being led by AREVA (France), Toshiba (Japan) and Russia. These people are signing new nuclear deals nearly every week. GE is in last place. Do they have a single verified order that hasn't been cancelled? If you want finance, derivatives, CDO's, CDS's, credit cards, movies, television producers, theme parks and who knows what---be sure to buy GE. If you are looking for the nuclear renaissance--short GE. Their committment to nuclear is so tiny relative to the other components that there is no investment opportunity.