market thinks there will be a counter..., page-22

Nice One,

I am a recent convert, only had it as 30% in my leveraged portfolio, not your 50%, but the sub million dollar smile won't go for weeks. If I buy nothing more (is the pope a catholic??) I can clear my margin loan with a mere $1 higher offer.

Those AGM wannabee, hasbeen losers with their religuous fixation on god's only nickel stock, AGM. Wrong - JBM was always Australian nickel king. For me with 2 major wealth creating gains on nickel takeovers this year ( and heaps more nickel gains) I was even considering changing my religuous affilialiation to the god of nickel, but fortunately realised in time who he is - decided on Lakshmi instead - that good old standby Indian Goddess - who once cursed me, but now loves me.

Jojo,
You know the best part for me - ZERO TAX - ZIP ATO CGT - all 100% tax free - not a brass razoo for Peter Costello. My JBM 100% post Australia, and no CGT in the shaky isles - entirely unlike West Island. No 12 month worry here mate, 100% pure laid back.

Furthermore with my JBM safely priced ( a floor anyway) I finally lost my compulsive check on the pon.

Badly looking for a new investment (will utilise the increased ML lending on JBM meanwhile), but may wait for the next correction to take any major new positions. Being relatively unleveraged would be a very very pleasant predicament while the current phase of the USA vs China transition plays out.

And yes to another bid. Maybe not BHP, I suspect one of the BRIC players (not Norilsk) will be more aggressive - China/India in particular in a real pickle with future resources. How could you justify your wealth tied up in USA bonds (as China does) vs the longterm return on an asset such as JBM priced at way above the current $23 offer. The games have begun!

Jojo, I am with you this time, will sell after you do this time (I led you in, you led me out!) Many of these potentially more aggressive bidders probably not comfortable with making the first bid, in an agreed manner such as Xstrata has. Not the way of an Indian conglomerate for example imo. But bid they will. Further concentration to Xstrata, BHP, CVRD, Norilsk will be a real worry in China and India imo.

EL