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Best ETF to Match Buffett's GE Play for 2010

Last week, at an annual investor meeting, CEO Jeff Immelt made it clear that, though the firm has bled profits and taken a hit this year, he believes that the worst is over. Looking to 2010, he feels that, though the damage done by the downturn will linger, the firm has made the moves necessary to benefit.

For 2010 and beyond, GE looks to return to the powerhouse it was prior to the global economic meltdown. Some of the more crucial steps the firm has taken to achieve this goal include shrinking its troubled financial arm and working toward completing its sale of the unprofitable NBC Universal branch to Comcast (CMCSA - Get Report). In their place, the firm will also refocus on its industrial arm through a number of energy and health care projects.

Fortunately, these two sectors will likely see some of the strongest growth in the new year as the U.S. gets closer to signing into law the new health care bill, and nations around the world look to develop more alternative energy in light of the Copenhagen climate talks.

Rarely does Buffett lose out on a deal. While GE has not earned him the profits of Goldman Sachs in 2009, I would advise investors to avoid writing off the firm in 2010.

Rather, if 2010 provides a prime chance to get in cheap, investors may want to take a look at the available exchange-traded funds that are heavily weighted in the conglomerate. These will see a big boost if GE regains its former strength.

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