The gold medal in the stock market's late-summer games will go to gold stocks, according to Thomas Winmill. Copper stocks are likely to show up on the medal stand, too.
The president and portfolio manager of The Midas Funds urges commodity-stocks investors to be keenly aware of the fundamentals in those markets. He says the world is looking at a huge deficit in copper production, and the market will get even tighter as the U.S. economy emerges from recession.
He says recent retreats in commodity stocks make them even more attractive.
"The second half is usually more favorable for gold," he told CNBC. "This is when you want to load up, when there's a lot of blood in the streets, as it were, and then perhaps lighten up when things are best for gold."
"Look at Freeport (McMoRan)," Winmill told CNBC. "It's got huge growth in its unit production of copper, moly(bdenum), and gold, and it's a nice company, with a diversified asset base."
He also likes Kinross Gold.
"That's a gold-mining company that's been way sold down on overdone fears about Russia," he said. "[Russia has] come out today basically limiting stock that can be sold overseas, but not limiting ownership by foreign countries of resources in the country."