Facebook, Freeport McMoran Healthy for a Diversified Portfolio
Facebook shares are up over 14 percent thus far in 2016 and sailed through first quarter earnings season, even while other large-cap tech players stumbled.
Facebook (FB) - Get Report shares are up over 14% thus far in 2016 and sailed through first quarter earnings season, even while other large-cap tech players stumbled. Michael Cuggino, portfolio manager for the Permanent Portfolio Fund (PRPFX) - Get Report , said the social networking giant will continue to perform well as it starts cashing in on acquisitions made in recent years. 'They have already found a way to monetize advertising on the Facebook page,' said Cuggino. 'But some of their acquisitions are about to start monetizing and it presents a lot of continued growth for that company.' The Permanent Portfolio Fund has returned 9.8% thus far in 2016, according to Morningstar.
