Well my dunce moment of FMG led to a dramatic change in my trading rules...on reflection away from a TA bias to a FA bias. Rule change: Thou must read and understand story of a stock thoroughly before you buy (and more thoroughly before you sell).
FMG/Twiggy was collecting all ground in the Pilbara that he could get his hands on at the time (I did not see that as I didn't read back far enough in research). Consolation prize was I later held FMS (which gave most of Solomon ground away to FMG which I think had 5bt+ of high grade Fe for next to nothing) but the FMS not so wise directors did hold on to 1 small tenement cause they though it might have diamonds of all things. They couldn't find enough diamonds because there was so much damn high grade Iron ore everywhere. Interesting the director/geo bias here... the Directors of FMS were the ones who helped find the Argyle diamond deposit.... You could say they a had their "diamond googles on" that filtered out the Fe lying everywhere.
Anyway the tiny nit of FMS ground turns out had about 800mt of high grade Fe on it ... Which is on ground right next door to the Solomon Fe Deposit. So good profit made but a tiny $$ amount compared to what might have been if my largish FMG holding was not sold.
FMS saved my bacon in the GFC ... went on to 10 bag
