Ann: C4 Iron Ore Deposit - Production Update, page-84

i have learnt to call it gambling. On one bet, or another. So many bets.
You bet on commodity price, expansion plans, execution, exploration, leadership, international events, what a market pays for forward concern, what a market does when it sees a mouse..here, everywhere. What the sellers are thinking, is driving the price etc. You have to gamble a winning position, against the other feller on the opposite end of the trade. And sometimes you have to recognize when the bet is turning against you, or when it is just going through a bad cycle. Sometimes - the fence is the best place to observe if there are too many variables.