04/26/12: Changing Horses
Occasionally, we’ll see a company in the same business as one of our portfolio picks that makes better sense as an investment. That’s the case with Glencore International Plc (LN: GLEN, OTC: GLNCY), which we’re now swapping in place of Xstrata (LN: XTA, OTC: XSRAY).
Buy Glencore up to GBP 4.35, or USD14.50 through its American Depositary Receipt, which represents two ordinary shares. Sell Xstrata.
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