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Non-Tech : The Official Guide To GOOFS
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To: Grant R. Cynor who wrote (170)6/16/1996 1:37:00 AM
From: Ira Vine   of 3539
 
Be careful with copper. I've owned Phelps Dodge, and though I made a reasonable 15% profit on it, it was not a great experience. Every time it went up a few points all the brokerage houses would point to slackening demand, growing world copper production, etc. as a reason why it should be sold. It's tough to keep fighting market sentiment, even with a stock thathas one of the lowest P/E's and one of the highest dividend yields of any metal company. Plus, one of the theory's is that there has been serious market manipulation keeping the price high (by Dawai keeping a horde of copper somewhere which they will now dump on the market). There is way too much uncertainty in these stocks, for my taste, anyway.
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