One of Warren Buffets best quotes is that some people should not...

One of Warren Buffets best quotes is that some people should not own shares, because they worry too much about the price movements every day and spend their lives fretting about what may happen this week or next. I am glad that as a none holder of FMG shares you do not have that problem. It is the long term outlook 5-10 years that is important. FMG will be producing iron ore at a competitive price for decades to come. Inflation will destroy new developments of iron ore mines through out the world. China it seems to have given up on climate change and is mining as much coal as possible, some of this excess coal will undoubtedly will end up smelting steel. FMG holders should keep an eye on the Australian peso, it kicked higher over the past few months but is heading back to below 70 US cents. The election result either way will result in a rabble of spendaholicts on the government benches with a few independents and Greens in the mix. It is my believe that The Australian peso is heading one way, below US 60 cents. That is just my opinion, but I remember the good old days of 2000-2001 when it was US 48 cents. Think of the iron ore price in Australian peso at that price.

Have a great weekend and do not be concerned with worry warts.

Good Luck