As for Twiggy pulling something out of the bag. He can do it the...

As for Twiggy pulling something out of the bag. He can do it the boom times but anyone can.

Just to set the record straight. September 2012 was anything but boom time. FMG hit $2.81, down from $6.18. Just as now, the doomsayers had it all wrapped up, and the shorters were convinced that it was all over. FMG's position was much worse than now. They were banking on an emergency cheap share issue to satisfy their sold positions. But what happened was an announcement of a much more favourable debt refinancing, and no share issue. The shares subsequently rose to $5.87. And later to $6.23.

To those who are so confident in their ability to make a fortune, I have a word of warning. I've seen more than a few market cycles, - its not making it that is hard, the skill is in keeping some of it when the cycle changes. Sounds easy, but very few do it.

This downtrend is nothing like as steep as what happened 2008, when it fell from $13.15, losing 91% of its value in four months. This time around it has lost 60% in nine months.