I’d like to congratulate Goldman Sachs for their deft and timely upgrade of Mosaic (ticker MOS) today to its “Conviction Buy List.”  With Bubble 3.0 in full swing, and Mosaic up a mere 1,000% in two years, such insights of unknown companies in unknown industries are highly appreciated by a market where manic behavior is evident on only some trading days.

Mosiac trades at a mere 47x trailing earnings, 11x book value, 8x sales and 34x cash flow.  That’s a bargain compared to Potash Corporation of Saskatchewan (POT), which is trading at 52x trailing earnings, 11x book, 12x sales and 32x cash flow.  Heck, Mosaic and Potash are trading at only half what Cisco traded during Bubble 1.0!

Some doom-and-gloom types might point out to you that over the past couple hundred years, such manic behavior and silly valuations in commodities and commodity stocks have always lead to tremendous collapses. But don’t listen to them.  It’s different this time.

I own Potash Corporation of Saskatchewan and am a seller into the nuttiness.