Copper has been on top of the world for much of the past half decade. If you started investing in copper or copper producers in the early years of the new millennium, you would have made spectacular returns in a time when the S&P 500 would’ve produced modest to flat returns.
Just how well did copper do? From September 2002 to February 2011, copper prices increased a whopping 450%! Not a bad little gain. If you had been fortunate enough to have held stock in Freeport-McMoran Copper and Gold (FCX) during that same timeframe, you would’ve seen even greater returns; around 700% – 800%!
And here’s where it gets really interesting: Freeport’s returns look impressive until you take a look at the astronomical 1900% gains you could’ve realized by owning shares of Southern Copper (SCCO)! Aside from owning stock in Apple (AAPL) during that same timeframe, it would be very
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