overhang, page-25

re: former bhp exec buying I have little doubt that the market has peaked. Just look at interest rates. They are not going down are they?
Resource companies are very capital intensive. A lot of companies are spending money on developing resources. What worries me is once they resource companies have the capacity, they want to use it.
This will lead to oversupply and downward pressure on prices.
We are already seeing it in coal.