Sunday, May 08, 2011 10:33:46 AM
I am sure his wish list is a little longer than placating those of us who remain uniformed as to the full extent of what is in the ground. I am convinced he wants to maximize his longer term investment as well as ours and cares less for those who want to make a short term killing on the stock.
I guess I am putting some credence in the fact that people generally don't invest their life-savings and reputation as well as all their time in digging holes in the ground on the blind hope that there just might just be some iron down there, or over here, but that they have a reasonable idea of what they are doing. I believe he reminded us that keeping a lid on certain information is prudent in the current market place, as the less said publicly in dealings with the Chinese, the better. Quite probably this holds true with other major forces, the closer you play your cards to your chest, the safer you are.
I am not as seasoned an investor as many of you, but I think there are a lot of armchair quarterbacks in the world who are convinced they could win a superbowl, if only they could get a job as a coach. But it is one thing to sit up in a booth and another to run with a ball tucked into your ribcage pursued by cunning 300 pound defensive tackles.
My strategy is to trust the fundamental facts- that this is a producing iron mine that has already sent one major shipment and they are playing the best game they know how to play with the players and resources they have. All the hot air wafting up from an Internet forum is not going to change their strategy any more than a a bunch of drunks in a cheering section is likely to change the game-plan of a Bill Belichek. Even if they have to punt occasionally, the game is not over and if the current PPS is undervalued, as I think it is, that may be just part of the plan.
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