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Ivan Glasenberg’s illusory tilt at RIO has all major miners firming today with BHP up 1%, RIO is up an opium-addled 2% and FMG flat. After all, when he’s done buying RIO, BHP and FMG will be next. Here are the comparative indexes:
The idiocy spreads are all widening now and the moron cross (BHP falling faster than RIO) is back in play:
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Apparently Mr Glasenberg’s ambitions do not extend to the juniors:
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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