Featured StoryIf you're planning on investing in 2013, economic uncertainty probably will be a factor in deciding where to put your money - but some sectors stand out as solid prospects regardless of the economic climate.
Here's a breakdown of the best sectors for your money in the New Year.
Hot Sectors for Investing in 2013Silver: With economic uncertainty expected for the near term, gold is typically considered the best hedging choice.
But, as Money Morning Global Resources Specialist Peter Krauth pointed out in his 2013 silver price forecast, silver actually provides more potential for appreciation - and at a far better starting price.
Krauth says the white metal, currently selling for around $30 an ounce, could move to a new high of $54 an ounce in 2013 - and not just because of its hedging value.
Investment demand for silver should continue to increase, driven by the creation and expansion of several silver-backed exchange-traded funds (ETFs) and increased minting of silver coins.
Industrial use of silver is expected to grow even faster. That's largely due to the use of silver in solar panel manufacturing, which consumed 60 million ounces in 2012.
Solar panel usage is expected to grow as a result of U.S. President Barack Obama's emphasis on alternative energy and increased demand from Japan, which has made a major shift away from nuclear power in the wake of the Fukushima nuclear power plant disaster.
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Hedging Strategies: Tight Trailing Stops and Inverse Funds
The Dow Jones Industrial Average has soared 26% since early July and some 84.59% from its March 2009 bear-market lows. And that has Money Morning Chief Investment Strategist Keith Fitz-Gerald more than a little concerned.
Does that mean it's time to cash out?
But it is time to take some well-advised precautions - which can be achieved with some simple hedging strategies, according to this market veteran who's seen it all before.
"Back in early July, the Dow was trading at less than 9,700 ... now that it's north of 12,000, we're climbing into thin air," Fitz-Gerald said in an interview. "Don't get me wrong. I'll take higher markets any day, because it means that all boats are floating on a rising tide. But I'm leery that there's a monster lurking underneath the surface. And you should be, too."
The 10 Rules for Successful Investing
[Editor's Note: This essay is adapted from "Fiscal Hangover," which will be published on Monday (Nov. 16).]
With all the financial woes in the global economy, the worst thing an investor can do is to "freeze up." With all the ups and downs in the market, it's all too easy for investors to allow their emotions to take control. That's when the smallest mistakes turn into the biggest mistakes.
There's one antidote for this problem ... remembering a few basic rules. Just embrace the 10 ideas that follow and you'll be in line to make some serious money in the months ahead. Read More...
- Five Ways to Ride the Commodities Bull The commodities bull has already run a long way and the "pundits" are saying the boom is over. Don't believe it for a minute. As long as central banks keep interest rates low, the commodities boom will continue. Read this report for five ways to make money on skyrocketing commodities prices. Read More...