Iron ore price, page-25568

I remain eternally grateful to " Forrest" who posted enthusiastically about 5 years ago on the "Intrinsic Value" of Fortescue.

After my initial foray at $6-50, the downtrend continued, but encouraged by "Forrest" I kept buying on the dips.

it bottomed out at about $3-50 and I topped up at $3-65 on the rebound for an average entry of $4-42.
I tried trading a few times without much pleasure.

I bought BHP and RIO and some other stocks after being advised by a broker to diversify.

I sold out of RIO and BHP after the Junkian Gorge debacle - they are both too diversified and have lost their way. That went in to FMG at $16-04.

So thanks to Andrew Forrest, "Forrest" and his "Intrinsic Value" spreadsheet, Nev Power, Elizabeth Gaines and all the hard workers at FMG.

To all the posters on Hot Copper over the years - too many to name!

FMG is the best run company I have come across.Read the Annual Report and marvel at the diversity, support for aborigines, energy efficiency , low cost base, amazing free cash flow, negligible debt and effective marketing and investment in new developments and research.

Thank you all for an amazing Christmas bonus!

But "who the hell" was "Forrest"??? He never revealed his true identity!

Merry Christmas and Happy and prosperous NewYear to the FMG "family".

Kangaroo1