Flores will be a billionaire when all said and done. FCX will be like BHP within 10 years Acquire all you can at these prices, buy more on any further dip. Hold on for life!..........and become very wealthy
I cannot think of any credible reason (e.g. tax incentives, symbolic gesture to market, etc.) for him to buy $50M worth in the last two months except that he is sincerely bullish and confident in FCX. Any thoughts?
I think your assessment of him being bullish is correct and an understatement. He has seen all the logs and has had access to insider information for a long time. Previously when head of PXP, he sold a large chunk of PXP's leases with ultra deep prospects to the former MMR for MMR stock on the basis of what he saw. So yes, I think he is bullish, but this ultra deep play will take patience.