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Strategies & Market Trends : Value Investing

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To: John Koligman who wrote (51967)	7/31/2013 2:55:40 PM
From: Raptech	Read Replies (1) of 78672

I was trading Phelps Dodge before it was acquired by FCX in about 2006. PD had a trading range that fluctuated with copper prices as I went up and down the ladder several times when I finally I hit a four bagger off the FCX acquisition. I did some consulting for one of the PD divisions and determined that the principles were engineer types with minimal financial backgrounds, but they sure knew how to get copper out of the ground profitably. I have been watching and waiting until there appears to be some price stability in copper. Also feel right now that FCX is in addition a market perform as the global economy affects copper demand and prices. With revenue and income down it may be a long hold. i may jump in if it gets below 27 as the 4.3% divvy is not too painful if it can be maintained while you wait for copper prices to rise .

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