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DewDiligence

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DewDiligence

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Re: jbog post# 5617

Wednesday, 08/22/2012 11:26:02 AM

Wednesday, August 22, 2012 11:26:02 AM

Post# of 30493

It seems like Vale's number has been breached rather significantly.

VALE doesn’t see the current iron-ore price lasting for the reason discussed in #msg-78795127. Similarly, if the spot price were to exceed $180 (the upper bound of VALE’s $120-180 range), enough incremental production from China’s low-quality mines would come online to push the price back into the target range.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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