"Not sure anyone foresaw and magnitude of the IO collapse or the determination of the big 2's anti competitive behavior." Actually, quite a few people did. e.g. the guys at Macrobusiness were at pains to point out the looming oversupply coming on to the market.
When you looked deeper and saw the big $$ committed by the iron ore giants to expand supply, you knew there was no turning back.
I always got the sense that Forrest saw it coming though. He seems to be forever in a hurry to cut costs, probably thought he could outrun the tsunami of iron ore that would flood the market. We'll find out soon enough if he can make it.
AGO Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held