Peter Costillo finally decided to comment on current share market status & had just warned investors of what he calls a resources "boom" that in his opinion may take another 2 years & then bust same as property boom that busted in 2003!!
I don't think its a boom.
a boom is a wide overvaluation of market price of property(s) due to many reasons including higher demand that pushes market prices higher than what their actual value or (book value).
I invest in resources stocks heavily & still don't see any reason to pay 1c higher for any stock that DOESN'T carry on that value of cashflow, physical production or reserves.
I think the resources market is heavily calculated very accurately on minute by minute basis & we always give the benefit of the doubt to a down trend unless proven wrong.
Do you really think resources investors pay too much for potential?? Do you think it's really a boom??