I'm not downplaying the problems with iron ore, far from it. But you can bet that the management is way ahead of the problems, and have far superior knowledge than us about what is happening. FMG wrote the book on China connections and knowledge.
A lot of people wrote them off in 2012, and what happened? They not only dealt with the problems, but actually came out with an even better balance than before. In fact the tougher it gets the better they are likely to perform.
Success in any company is not about problems or lack of them. Its about management. Why do you think Qantas is struggling and Southwest has increased form $8 to $34 in last two years? The answer is the way in which each company's management handled similar problems.
Why do you think FMS has virtually disappeared, while FMG has prospered, when both started with similar outlook? Success in the mining business is just like success in any business.
I am really surprised that anyone really expected the Fe boom to continue indefinitely. There was no boom when FMG started out.
I'm not downplaying the problems with iron ore, far from it. But...
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$21.92 |
Change
0.350(1.62%) |
Mkt cap ! $67.49B | |||
| Open | High | Low | Value | Volume |
| $21.60 | $21.95 | $21.54 | $94.22M | 4.315M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $21.91 |
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| Price($) | Vol. | No. |
|---|---|---|
| $21.93 | 18370 | 7 |
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