From the Australian yesterday, whilst on Citigroup starting FMG...

From the Australian yesterday, whilst on Citigroup starting FMG with a "sell" rating...at least one broker sees value (hehe)

AND finally, it is good to see the biggest Fortescue bull, Charlie Aitken (at Southern Cross Equities) put pen to paper again.

Remember, Charlie was the one who predicted Fortescue shares would one day get to $100 a piece. He's so close to being right, it is not funny, given that after the 10-for-1 split, the revised target is $10.

His new comments are even more insightful.

“I stand by my comments of a few months ago, that the only rusty nails are in the coffins of those who have tried to short FMG,” Charlie writes.

“I did laugh the other day when I saw the headline ‘Citigroup initiates coverage on FMG with a sell’.

“Firstly, it's interesting to initiate with a ‘sell’ after you never recommended buying the stock and have missed the first $23 billion in market cap for your clients.

“Secondly, isn't it ironic that a somewhat impaired global ‘financial’ recommends selling one of the best performing resource stocks in the world.

“I also hear Macquarie Bank has been running a sell/short campaign on FMG, so, for fun, let's have a look at the performance of Citi shares versus FMG, and Macquarie Bank shares versus FMG, over the last year.”

Needless to say, the results are somewhat embarrassing for Citi and Macquarie.

In rock ‘n’ roll terms, they call that Sticking it to the Man.

http://www.theaustralian.news.com.au/story/0,25197,23357653-15023,00.html