Selling FCX - Freeport McMoran Copper & Gold

I would be selling my entire stake in FCX today after making a 65% profit since buying 130,000 shares ($27.80) on the 5th of January, and another 100,000 ($21.77) on the 23rd of January. Briefly, the initial reason for buying into this stock back then was due to the general pricing climate of its commodity, and its over sold stock.

Firstly, commodities prices have been bashed up badly at the end of 2008 as demand of anything was assumed to be going down. My belief then was that gold of all commodities will rise because the US govt was generating uncertainty to the world's reserve currency by printing money to fund its stimulus plan.

Secondly, while all commodity related stocks were badly affected, none has been more hurt than FCX. While FCX chalked up huge losses in 08, investors bailed out in droves, sending its market valuation crashing to unbelievable values. If there was one mining company that has the most prospect for growth, it had to be this one.

I'm selling it off today, because I think the price of FCX has reached the point where I no longer feel comfortable holding it anymore. It's management has one of the worst records in the industry. While the industry's 5 year return on equity had been 9.43, FCX stood at -34.42. 5 year avg return on asset is also a paltry -5.27 while the industry is still decent at 6.43.