Last February, we spoke with Michael Cuggino, the portfolio manager of Permanent Portfolio (PRPFX). He gave us two picks for an uncertain economic environment. Here’s how they’ve fared:

Wynn Resorts’ (NSDQ: WYNN) board had some turnover last year. But the big news was Steve Wynn’s attempt to oust Kazuo Okada, a 25-percent owner and Wynn’s former business partner, for improper donations to casino officials in the Philippines. Shareholders will vote late January on Okada’s fate.

The outlook for Wynn Resorts remains favorable given the likely pickup in US and Asian economies. Wynn is also looking into expanding into Pennsylvania and Massachusetts.

Wynn Resorts has returned 10.3 percent since recommendation.

Diversified mining company Freeport-McMoRan Copper & Gold (NYSE: FCX) announced last month it plans to buy McMo- Ran Exploration Co (NYSE: MMR) and Plains Exploration & Production Co (NYSE: PXP) for a total of $9 billion in cash and assumed debt, thus adding oil and natural gas exploration back to the company’s portfolio.

Although FCX previously spun off McMoRan Exploration in 1994, CEO Jim Bob Moffett believes MMR’s ultra-deep oil discoveries in the Gulf of Mexico are too good to pass up—comparable in scope to its Grasberg Mine in Indonesia. The acquisitions are expected to close in the second quarter of 2013.

In the coming year, FCX estimates its copper production will jump 19 percent to 4.3 billion pounds, and gold output will rise 40 percent, to 1.4 million ounces.

FCX shares are down 22.5 percent since recommendation.