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An interesting picture for the fairies on this forum who like to talk voodoo about how iron ore and coal and China are only a FRACTIIONNN of Australia's export economy. PS: sourced from this planet's premium investment bank, Goldman Sachs.

Point was simply it's hard to see what's cheap sometimes and one could wait a very long time (and hopefully one day be right) by buying and thinking it's cheap. Is, for example, ERA cheap at $6 when it used to be $12? What about $3? Or $2? It's now $1.30. Is that cheap? Or RIO? Used to be...

People were saying that 2 weeks ago too.

Haha that's not true. China had not delivered growth for a long time before 1985. Mao probably had a firmer grip on the country than any political leader of this generation. With growth comes knowledge and TV and media and internet. Not necessarily a good thing for maintaining control over...

The key would be on resources consumption in China, India, Japan and South Korea. I have no doubt that most other major sectors - retail and hospitality, tourism, logistics, aviation etc - are already in a mild downturn. If you speak with most downstream users of coal/iron ore/base...

A strange economy indeed. Every day I hear of pilots, truck drivers, train drivers, people who fix computers at banks etc losing jobs. The world must seem like a recession for most of these people. But just on Friday I went to a lunch where one of Australia's largest copper company's CEO was...