I wasn't talking specifically about getting burnt losing money on FMS I meant it could be anywhere.
Fingermark, I can see what you are getting at, this is why I don't have any more than 10% of my portfolio in FMS.
This is a risky speculative stock IMO and I am willing to take the risk with the reward. It is currently down by percentages not far off some of the banks, FMG, OZL, BHP etc.
I would not be surprised to see it go down a whole lot more, as it is more speculative and more risky than the abovementioned stock.
I am willing to try and ignore this downside and focus on the positives and the potential.
These are:
Potential commercial size and grade hematite iron ore deposits.
Favourable relationship with Andrew Forrest and FMG.
Favourable proximity to transport for ore with gate sales deal with FMG
"Sadly at one stage I too believed in my own rhetoric and self belief much like you do now, only to discover how horribly wrong I was. "
I have also followed my self belief, and made a whole bucket load of cash, after a lot of ups and downs and stress and heartache on stock that was written off by analysts and traders alike. I held a long term view and it paid off.
That doesnt mean FMS will work out for me of course and you could be right.
That is why my whole bank is not in this stock. My advice is, if you buy something like this, be prepared to lose most of it.
That is my opinion of the company now. I cannot predict where the company will be in 12 months time, what will determine the story then will be what those drill cores turn up.
No one knows this, that's why it's speculative, if you don't like this, then you are wasting your time reading and writing about FMS.
FMS Price at posting:
9.7¢ Sentiment: Hold Disclosure: Held
