I think that's the way to go. Watching the gyrations on a daily basis can drive one insane.
Last thought to leave with our happy shorters who believe it's heading back to the $40's - about 10 years ago RIO was selling approx 50mt of iron ore - last year they shipped 143mt and within 5 years they'll be shipping 200mt. And they still own 13,000 mt of iron ore in the ground. There's nothing stopping RIO from going to 300mt within a decade if that's what it wanted.
And guess what drives profits? Volume growth. 10 years ago when they were at 50mt their profits were under 1 $bil, their share price was under $30, and their dividend yield was less than 3%. Pretty obvious what rising production volumes can do to profits, especially when you operate a mine with mega mega fat margins.
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Last
$111.55 |
Change
1.560(1.42%) |
Mkt cap ! $41.40B |
Open | High | Low | Value | Volume |
$110.18 | $112.30 | $110.16 | $202.9M | 1.815M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 952 | $111.55 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$111.57 | 10 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5 | 111.460 |
2 | 119 | 111.000 |
1 | 90 | 110.580 |
1 | 4 | 110.500 |
1 | 181 | 110.400 |
Price($) | Vol. | No. |
---|---|---|
111.570 | 10 | 1 |
111.760 | 255 | 1 |
111.950 | 450 | 1 |
112.000 | 1700 | 3 |
112.190 | 500 | 1 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
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