Re: Everything is overpriced?
FCX was a value play after it bought Phelps Dodge. If you're only looking at P/E, which is pretty narrow, it could still be attractive. Although it's up 70% YTD, it's P/E is still less than 13. You're seeing a big run in the mining stocks because of consolidation and higher spot metal prices.
You should look more closely or run a screener with low PE multiples if that's the crux of your analysis.
PS Goldman has a PE < 11.
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