Never said I hate it - just that the pool here is very shallow. I'm much less emotive than those attacking my view.
Never said it would go broke either.
You're one of the more clued ones so I'll dignify your response (again).
Clearly I think it's over-valued. Can I see it going to $3 - yes. Am I happy that I waited till now to go short -yes. I think $3-4 is a reasonable range in a years time. With a small chance it could be much lower.
Could I be wrong - yes. Locking on to a single view is the worst thing an investor can do.
There is enough carnage on other resource threads to bear that out.
Of course it's about long term supply and demand and about the reasonability of rents towards the top of the curve. How could it not be
What's your valuation?
Iron Ore Price, page-10960
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$17.69 |
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