The massive capital loss is because of excess debt, a belief...

The massive capital loss is because of excess debt, a belief iron would remain at high prices for years and over exuberance in some resource stocks (don't forget the lower price for low grade ore) . The Yankee debt holders kept Atlas going when Aussie's wouldn't lend the money. The board kept Atlas alive, did some joint ventures and managed a takeover.

In my opinion it was events that led to the downfall of Atlas as a market darling not people. It is easy to blame individuals for investors lack of ability to identify potential risks. People should take a loss as a learning opportunity rather than a blame game, why buy at much higher levels if you can't identify downside risk. In my opinion. DYOR .