Moondoong is very right. I've been closely following the gold mining sector since sometime and have seen how bad things can get. All stocks within the gold sector have been behaving like the entire industry is closing down. Consequently, the industry has been desperately trying to cut costs everywhere and the gold industry may finally be ending its bear market after some years.
Other mining industries like iron, oil, copper, etc. could just be starting their bear markets. People in those industries should just look up the gold industry in the past few years to see how bad things can get.
I passed some comments last month explaining why I feel that Aussie property is grossly overvalued and how Perth in particular which rode the mining boom should ideally also slide with the inevitable mining bust. Cost cutting, massive layoffs, mining company bankruptcies, etc. could be just starting. Also the days of miners paying super normal rents and thus artificially boosting house prices could be totally over for a long time to come.
