📈 The Trade — Buy, Wait, Sell Just Enough

Here’s the simple, strategy-aligned version:

Date	Symbol	Quantity	Amount	Action
12/31/2024	FCX	40	$1,538.98	BOUGHT
Today	FCX	25	~$61.50	SOLD (partial)

I bought 40 shares of FCX on Dec 31, 2024.
Then today, I sold 25 shares at ~$61.50, which recovers my capital (more on that in a sec). That leaves 15 shares that are effectively “free shares” if the strategy works.

This is exactly how the Up 40% Free Stock Strategy is meant to work:
👉 Let it rise, sell just enough to get your original money back, and keep the rest forever (or long-term).

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📌 What Is the Up 40% Free Stock Strategy?

If you’ve read BuySellKeep’s category on this strategy, the logic is:

“Let it rise. Take your capital back. Let your free shares grow forever.”

That means:

1. Pick a stock you believe in.
2. Buy shares and wait (patiently or impatiently).
3. After it goes up ~40% or so, sell just enough to recover your original capital.
4. The remaining shares? They’re now free shares — you didn’t pay for them anymore.
5. Let those shares ride, because upside now doesn’t have emotional cost.

This is practically the “holy grail” for retail investors who want asymmetric risk — limited capital at risk, continued upside if the company does well, and no stress once your basis is back.

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🪙 Why FCX Was a Good Candidate for This Strategy

There were three big reasons FCX fit the Up 40% framework:

⚡ Demand for Copper Was Already Strong

Copper wasn’t just a cyclical metal — it was the internet of metals, powering electrification, EVs, renewable grids, and data centers. FCX is one of the largest copper producers, so rising copper prices meant real earnings potential.

And indeed — copper rallied smartly in 2025–2026, giving the share price the lift needed to sell partial and recover capital.

🪙 Gold Added a Layer of Stability

Unlike pure copper bets, FCX also produces significant gold. Gold can rally even when markets are uncertain or volatile, and that gave FCX a smoother revenue base — exactly what you want when you’re waiting for a stock to hit your sell level.

So FCX became a two-metal stock, not just a copper pure play — giving it a revenue cushion on the downside.

💰 The Price Move Hit the ~40% Threshold

The whole reason the strategy works is selling enough shares after a nice price move to recover your investment. FCX’s move allowed that, so I could sell 25 shares and essentially take my basis off the table. Once that happens, the remaining shares are no longer “paid for” — they are free to run.

What I Thought I Was Buying (Spoiler: Incomplete)

At the time, I told myself a very clean story:

“Copper demand is structural. Electrification, EVs, grids, renewables. Freeport-McMoRan is a copper giant. Done.”

And honestly? That story wasn’t wrong.

It was just… missing half the plot.

Because FCX is not just a copper company.
It’s a Copper AND Gold company — and that second word matters a lot more than I gave it credit for.

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Freeport-McMoRan in Late 2024: The Setup

Back in December 2024, FCX had a very specific appeal:

• One of the largest copper producers in the world
• Meaningful gold production as a by-product (especially from Grasberg)
• Direct leverage to two metals with very different market personalities

Copper = growth, infrastructure, electrification
Gold = fear, inflation, central banks, chaos insurance

FCX was sitting right in the overlap.

At the time, that overlap felt underappreciated.

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Why FCX Was a Good Buy in 2024

(Yes, This Is the Serious Part)

⚡ Copper: The Obvious Engine

Copper demand wasn’t a “maybe” story anymore in 2024.

• EVs use significantly more copper than ICE vehicles
• Power grids need copper upgrades everywhere
• Data centers, AI infrastructure, renewables — all copper-heavy

At the same time:

• New copper supply was slow and capital-intensive
• Permitting and geopolitical risk were real constraints

That combination — inelastic supply + structural demand — is exactly what you want if you’re buying a miner.

FCX wasn’t a speculative explorer.
It was already producing, already profitable, already relevant.

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🪙 Gold: The Silent Stabilizer

This is the part I underestimated.

Gold prices were already strong in 2024 and stayed strong as:

• Inflation concerns lingered
• Rates expectations shifted
• Central banks kept buying like they knew something I didn’t

Because FCX produces gold alongside copper, higher gold prices:

• Improved cash flow
• Smoothed earnings volatility
• Softened the downside when copper wobbled

So while I thought I was buying a cyclical copper play, I also bought:

• a partial hedge,
• a margin buffer,
• and a volatility dampener.

Accidentally. Which is my favorite way to diversify.

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Valuation in 2024: “Not Cheap, But Explainable”

Was FCX dirt cheap in late 2024?

No.
Was it insane? Also no.

That’s the sweet spot.

At the time:

• Trailing P/E looked elevated if you assumed “normal” commodity prices
• Forward valuation looked much more reasonable if copper and gold stayed strong
• Balance sheet and cash generation were solid enough to justify patience

The key was this:

FCX’s valuation only made sense if you believed in Copper AND Gold, not just one of them.

And I did — even if I didn’t say it out loud.

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What Changed Between 2024 and Now

A few important things happened:

• Copper prices surged to new highs
• Gold stayed resilient instead of collapsing
• FCX benefited from both at once

Yes, there were issues:

• Operational setbacks
• Cost pressures
• Headlines that briefly scared the market

But the core thesis held:

• Two metals
• Two revenue streams
• Two different macro tailwinds

That combination is why the stock recovered, pushed higher, and gave me a clean opportunity to sell part of the position instead of panic-selling all of it.

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🪴 What “Free Shares” Actually Means

Let’s be clear — “free shares” doesn’t mean shares magically appeared in your account without cost.

Instead, it means:

• You sold enough to get your original money back
• The remaining shares are now no longer your capital at risk
• Those shares represent pure optional upside

So if FCX goes up from here? Fantastic.
If FCX goes sideways? No tears, because your cost is already back in your pocket.
If FCX dives? Your remaining shares were already paid for — so technically they’re still free to you.

That’s the genius of the Up 40% Free Stock Strategy.

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📊 Final Take: Strategy > Prediction

The truth is, nobody knows how markets will pivot next week, let alone next year.

But the Up 40% Free Stock Strategy isn’t about timing the absolute top.

It’s about:

✔ Choosing stocks with a plausible long-term case
✔ Letting the market reward you with gains
✔ Taking your money back when it does
✔ Holding the rest as free shares for the future

And in this FCX trade?
That’s exactly what happened.

Copper helped it rise.
Gold made the earnings more stable.
And the price move hit the point where I could literally take my money back.

Now the rest is just free upside waiting to happen.