Here’s What Billionaire Ken Fisher Has Been Buying: Exelon Corporation (EXC), Baidu.com, Inc. (BIDU)

Freeport has been hurt by low copper prices, higher costs of production, and global economic slowdowns. It’s a low-cost producer of copper and molybdenum, positioned to benefit quickly from upturns in metals pricing. It’s also diversifying away from copper a bit, moving into oil and gas exploration via a merger with its former relation, Plains Exploration and Production Company (NYSE:PXP). Freeport has a balance sheet that’s unusually strong, it offers a 3.5% dividend yield, and its fourth-quarter earnings report was stronger than expected.

Finally, Fisher’s biggest closed positions included PSS World Medical, Inc. (NASDAQ:PSSI) and Warnaco Group Inc (NYSE:WRC). Other closed positions of interest include Diamond Foods, Inc. (NASDAQ:DMND) , which had a tough 2012, losing out on a bid for Pringles and having to restate financial results, among other challenges. With negative free cash flow and negative net income, along with meager cash and rising debt, delve deeply into Diamond before investing in it. It may turn itself around, but it seems to have some work to do.

We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. 13-F forms can be great places to find intriguing candidates for our portfolios.

After putting together a blockbuster deal to expand into the oil and natural gas industry, Freeport-McMoRan will have plenty on its plate as it tries to adapt to the new industry — expanding into oil and gas carries plenty of inherent volatility. The company had a profitable copper business, and on top of this foray into a new industry, it still has to contend with mining industry bellwether BHP Billiton. To help investors determine if Freeport-McMoRan is a buy or a sell, we’ve compiled a brand-new premium report on the company! Click here now to gain instant access!

The article Here’s What One of the Richest Americans Has Been Buying originally appeared on Fool.com and is written by Selena Maranjian.

Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter, owns shares of Baidu. The Motley Fool recommends Baidu and Exelon. The Motley Fool owns shares of Baidu and Freeport-McMoRan Copper & Gold. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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