Top Stock Picks '09: Freeport McMoRan (FCX)

This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

Growth stock expert Mark Skousen looks to the commodity sector for a favorite idea for 2009. In his specialty advisory service, The Turnaround Trader, he explains, "While the market continues to be volatile, we believe Freeport McMoRan (NYSE: FCX) offers an opportunity for profit."

Skousen continues, "Industrial commodities have been beaten down in the face of a deep, global recession. Aluminum was $1.50 a pound a year ago, and is now down to 66 cents. Copper was more than $4 a pound last year, and recently fell to $1.40.

"But the outlook for commodities is changing quickly with all the talk of bailouts, stimulus, and easy money.

"Aluminum, copper, and other base metals have risen recently on the news that President-elect Barack Obama has pledged 'substantial' spending to fix and add buildings, roads and bridges as a way to revive the economy.

"And then there's China. The world's largest emerging market recently committed to stimulating domestic growth, and announced plans to purchase 1 million tons of base metal for about $3 billion. China's massive stimulus plan, combined with Obama's, could be enough to reignite the commodities boom.