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Who says the collapse of the Turkish lira and of the Turkish stock market isn’t good news for anyone?

While it’s certainly true that the troubles in Turkey–which have become worse as the country’s relationship with the United States has tipped for mild disagreement to disfunction–have sent a shudder through all emerging markets at a time when those markets don’t need anything new to worry about. But the sell off in Turkey and the weakness in emerging markets has also led to a knee-jerk retreat in commodity prices. Which is actually good news if you were looking to buy a commodity stock today–which I was–and if the commodity in question has nothing to do with the Turkish market or economy.

Let’s get this straight. I was going to add shares of lithium producer Albemarle (ALB) to my Jubak Picks Portfolio anyway today. The stock is one of the picks in my Special Report: 10 Best Stocks in 10 Sectors (available to subscribers to and I think lithium is riding the growth trends in electric cars and rechargeable batteries in general. But I don’t mind buying when the stock id off 1.81% as it is today to $98.94 as of the close of the New York market today, August 10. (Albemarle is already a member of my long-term 50 Stocks Portfolio but the company’s recent earnings report has convinced me that this is a stock that fits my 12-18 month Jubak Picks Portfolio as well.)

Here’s the reasoning for this pick as I laid it out in my Special Report: “But the group [in the materials sector] that gets my most interest right now is lithium–because investors and traders got so carried away on the sector before the downturn in commodity stocks in 2018 that even the best companies in the industry have taken a huge beating. Chilean producer SQM (SQM) is down 19% year to date. Albemarle (ALB) was down 22.7% before it bounced 6.4% on the August 8 earnings report. The earnings surprise in that report–earnings of $1.36 a share, up 20.4% year over year–and revenue growth of 15.8% year over year, are key to making Albemarle my pick in this sector. After all I’m not just looking for a stock that is cheaper but one that is reasonably priced on strong future growth. I also like the company’s decision to focus on lithium by selling off units such as its polyolefin catalysts and components business to W.R. Grace. The company’s lithium segment showed revenue growth of 30.2% year over year.”

Target price is $118 a share.