Part of my work/business role is finding financial services and accounting staff working remotely. Most nowadays are coming from low income countries but the salaries are rising fast. Astonishingly fast. Which is a great thing. Covid has made it so that hiring Joe in the suburbs of Sydney to work from home is not much different from hiring Jose in the Philippines for your basic back office role. Think India, think Vietnam and think Philippines. Huge population centres.
Why am I mentioning this on an fmg thread?
Previously these staff had low purchasing power, now they have greatly increased disposable income. They can now afford cars, condo apartments, fridges, washing machines etc etc. All use a lot of iron ore.
China has just gone through this boom they attracted wealth through manufacturing. It's now happening in the countries I mentioned through high foreign (high income country) online wages.
I couldn't be more bullish on iron ore and I think China is foxing us because they know the opportunity here. I am going to be accumulating dips with the knowledge that iron ore always recovers and the belief that the floor is $100 usd a ton and I think it won't be long maybe 5 years until the floor is $150 usd a ton...
Buy in today's dollars, use debt in today's dollars if you are so inclined (cashflow positive from day 1 divs less interest).
I have been a holder a couple years now and that won't be stopping any time soon.
please dyor this is just my opinion
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$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B |
Open | High | Low | Value | Volume |
$17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 300 | $17.33 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.35 | 28897 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 300 | 17.330 |
3 | 1302 | 17.310 |
4 | 4250 | 17.300 |
2 | 2522 | 17.290 |
2 | 1080 | 17.280 |
Price($) | Vol. | No. |
---|---|---|
17.350 | 27484 | 2 |
17.380 | 1000 | 1 |
17.450 | 500 | 1 |
17.480 | 1000 | 1 |
17.500 | 3081 | 3 |
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