WTF is FCX doing buying distressed E&P related party assets? Sort of glad I stayed away at this point. - LeKitKatI'm happy for you.Me? I fell asleep Tuesday evening thinking I owned a respected copper and gold mining enterprise. I woke Wednesday morning learning I now owned both a mining company and an oil/gas exploration conglomeration. Noticed my wallet felt considerably lighter, too.Sigh.Didn't matter how much research I did prior to deciding to buy FCX because I wanted a bit more diversification in my portfolio. I wanted a miner. Already owned plenty o' oil companies (the sector is a bit overweight in my portfolio). Now I gots me a strange animal that is neither fish nor fowl. The plunge in share price occurred in pre-hours trading. The damage was locked in before I even brewed a pot o' coffee.No point in selling yesterday or today. After steep cliff dives like this, stocks usually recover a bit. It'll give me time to assess the situation. Cramer notwithstanding, mixed reviews are trickling in. Some are favorable, most are not. Class-action lawsuits are already in the making. Major suckage.To make matter worse, GDFZY also plunged 10+% today. I'm overweight GDFZY, too. This drop didn't bother me as much. The dividend yield is north of 13%. GDFZY will weather the economic storms in the Eurozone (it has been hit with pricing restrictions in a number of European countries as a consequence of austerity). Much as I dislike haircuts (literally and figuratively), I actually picked up a few more shares of GDFZY. I'll bank the dividends while the company sorts through the economic headwinds. It'll take a few years. That's OK. I'm patient.There you have it, a tale of two setbacks. I find FCX's decision galling. GDFZY? The dividends make it bearable.
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