io price doom and gloom overdone, page-54

"I think the "catch up" argument is a poor one and I actually view the fact that resources are lagging as a negative going fwd....ie i don't expect the under performance trend to mean revert without fundamentals following suit."

Yes, there will be no catch-up without the numbers also catching up. But there are many other companies in this arena. Eg. the retailers, HVN, MYR, and DJS have all risen dramatically recently, without their current numbers catching up.

My view is that the numbers are actually much better at current prices than many realise. As you say, FMG is coining money. I think the market is at the 'grow-on-scepticism" stage, with the serious money yet to enter.

SMSFs are chasing yield, having realised that real returns from term deposits are actually losing money after tax and inflation. Why accept that when you can get 7% grossed up with a bank share?

There are more and more SMSFs every day. Looking for yield. Buying FMG at $4.50 will show a great yield in a couple of years. We can't ignore the US markets and our own accumulation indices at all time highs.