Kass(article on RealMoneyPro.com at thestreet) has been writing about “owning” water all year. Today he re-iterates the buy: Powershares Water Resources [(PHO) down 20.55% YTD according to Yahoo/finance] and Guggenheim S&P Global Water Index ETF [(CGW) down 3.76% YTDaccording to Yahoo/finance] as ETFs to buy. He feels water, long term, there is an enormous imbalance between demand and supply.