AFR article today says many company valuations are too high because they have been based on overvalued resource prices. They say the prices of basic resources in 2011-2012 will be closer to 2010 prices and so many shares are overvalued. However, the same article identified a few companies that are NOT OVERVALUED - being BHP, RIO, FMG, AGO, Oceanic gold, Resource Generation and Paladin.[sorry dont know the codes for last 3]
AGO Price at posting:
$3.74 Sentiment: Hold Disclosure: Held
