Bill Cara: MS soft on aluminum, Thurs., Sept. 28, 2006, 8:42 AM

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September 28, 2006

MS soft on aluminum, Thurs., Sept. 28, 2006, 8:42 AM

There is no question that aluminum is not a "hard" metal, and Morgan Stanley is soft on it " at least for the next six months -- for reasons they give in this report. Download MS Sept 25 report on Aluminum.

Now gold is a "soft" metal too, but it happens to represent "hard" money. As you know, I'm not "soft" on gold " but that's another story.

As to the aluminum industry, it's all about consolidation. That's a term meaning "gnome control".

Next company likely to be "consolidated" is Canada's Alcan (NYSE, TSX: AL). Why do I think so? No other reason than Canada doesn't have a clue about the global value of its natural resources, and would prefer other nations to control them.

But, don't get me started.

Well actually, Barrick's Peter Munk, a Torontonian, did have a good quote on this recently: "Canadians have no balls."

Posted by Posted by Bill Cara on September 28, 2006 08:42:01 AM | Category: 15 Materials