Kevin Walmsley

Dennis Gartman: Go Long Infrastructure, Short Everything Else

Yup. Great post, game over. Even a profligate government run by liberal Democrats can't borrow and spend fast enough to make up for the annihilation of private sector investment.

Gartman is half right: go to the headline and excise the words "go long infrastructure" and "else", and you've got the only winning strategy for 2009.


On Dec 28 09:13 AM prudentinvestor wrote:

> I doubt that the steel demand for all the new bridges and tunnels
> will make up for the decline in demand due to fewer new petrochemical
> facilities, power plants, mining projects, industrual buildings,
> office buildings, malls, casinos, cruise ships, cars, trucks, etc.
> There is a capacity overhang in all these areas that has to work
> itself off, and many projects around the world that consume steel
> are being put on hold.
>
> Ditto for other infrasturucture commodities.
>
> Thus, I believe the infrastructure bandwagon (like all bandwagons)
> has been over-rated.