Thoughts on Fortescue (FMG)
Hello Esteemed Team, I have long wanted to buy FMG but have never pulled the trigger because it is very cyclical and it is a PURE iron ore play and therefore more vulnerable than BHP or some others. Recently the price dropped below $16 and has now bounced a little above. I suspect there is a good chance it will get to $15 or lower if I am patient. I know MM currently owns FMG in one of it's portfolios. It is one thing to buy a stock for the first time and another to buy more when you own it. What price do you think would be a good buy for an FMG virgin in the current volatile climate and IF the world goes into recession how do you feel FMG would fare considering it really has only one product to sell? Octogenarian
