- Joined
- 1 October 2008
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But I believe such a lashing on Andrew woas very unfair . He is the only AUSTRALIAN who helped millions of Australians to make money on FMG. He was a loner to fight against big guys like Rio and BHPB.At least he is fighting to save many faces including his own. At least he has not sold off his shares when there was hay day.Yes, FMG is under tremendous financial crisis.
When you balance it out there is no evidence of Andrew uplifting anybody.
He has created an extremely risky entity built on other peoples money and debt
whilst singing the praises of the Chinese who are profoundly corrupt and cruel - something Andrew claims to be working against!
That's about it.
I would have admired him had he gotten out of his shares when they were say between 5.50 and 6.
Then spent the rest of his days using that 10 billion to uncover what he really knows about the Chinese culture of vicious atrocities that is systematic in Chinese regime.
I can't imagine the Government approving the sale of port and rail infrastructure to the CHinese.
I think you missed the words 'On balance' meaning the amount being lost now and the cover up of suffering in China and the countries it attacks and occupies.What do you mean, he has provided plenty of jobs in communities that struggled prior, and he has pushed to provide aboriginals with training and employment opportunities they don't always have.
I'm not negative about it in isolation. I question his motives, it's more like an investment in his own character, which he seldom shy's away from promoting about 'himself.' Like I said if he really wanted to do that, he could have on a much greater scale.Any charity work he does is on top of this, I don't see why you are so negative about his community and charity work.
It's irrelevant. It depends on the level of risk, and the greatest enterprises have no debt but massive amounts of cash - like Apple.Can you name any large infrastructure company that hasn't used debt in the early stages to fund the development of the infrastructure?
You certainly can. You make them understand that business will be hard for them if they continue to brutalize their own and other people whose countries they occupy. You also use your means to highlight how the the Chines import children for sex slavery from places like Vietnam.I doubt any foreigner, let alone an Aussie can influence chinese internal politics, saying that though, the chinese industrialization, built with Australian Iron ore, has lifted millions of people out of poverty. How is this a bad thing.
That's probably where you and I differ, I admire people who build great companies, and then back them for decades, taking the ups and downs in their stride.
Nothing is going to change the Chinese government except changes from within.
I don't admire a fool who builds a highly risky enterprise and can't even save himself when clear fundamentals indicate the risk.
As I said I think you are being rather negative towards a guy who has donated millions of dollars to some very good causes, to lump the problems of china on one Australian Business man seems very unfair, plenty of other business leaders selling into china or producing in china that you don't seem to fuss about.
"Can't save himself"????
Ah yes but we seem to have lost our focus here once again. Andrew walks away with millions but billions are lost by others as a consequence of his activities, with not even a moral benefit, ON BALANCE, to anyone (apart from Andrew Forrest).I think he originally put about $6Million dollars of his own money into Fortescue, and has since earned 100's of millions in dividends, I don't think he needs saving and I don't think he is a fool, If so I wish I was more foolish.
The fundamentals of the business are a lot different than you make out, I have stated my case and am happy to let time prove me right.
When your net worth has gone from 12Billion or so to 2.4Billion in charity run by your wife, your not saving, your losing, especially when you had grand proclamations and about what you were going to do with it all. I'm calling that foolish.
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Andrew walks away with millions but billions are lost by others as a consequence of his activities, with not even a moral benefit, ON BALANCE, to anyone (apart from Andrew Forrest).
Thanks for your response value. What is your take on his numbers re current supply/demand of iron ore? Do you think that it is currently being impacted by market sentiment as much as he says?
Quantified like a true statistical traderThe change to 2 weeks on, 1 week off makes it 33.33% off time
How many hrs a day are the miners working?
Yeh that's what I thought. In anyways, I think most miners work longer days than the average office worker so skc's calculations are probably off.
Who has lost Billions?
It seems I am talking of potential losses to creditors and yes share holders who bought in at what ever level you believe is reasonable, which by the way is what according to your aspirations/valuation?
How many hrs a day are the miners working?
I think there is two 12 hour shifts a day, but I could be wrong
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