The only problem I have with that thesis is this. China does not give a rip about individuals. If the choice is between keeping a lid on met coal prices or some miners dying, it seems they would pick coal prices every time.
My only point is that 80+ people died, and there is an enormous amount of attention on this accident right now.
But reopening mines too quickly and then having another major accident weeks later would be a much bigger problem. That doesn't seem like the most likely outcome to me.
The investigation has been taken over by the State Council, the highest level of government authority. The team dispatched by the State Council is conducting a rigorous and uncompromising investigation.
Under Chinese law, any accident resulting in more than 30 fatalities is classified as a "particularly serious accident," which automatically triggers a State Council-level investigation, potential criminal liability, and industry-wide safety inspections and reviews.
Alpha is roughly one-third of my portfolio. I've spent the entire year looking for investment ideas that are better, but I haven't found any. I'm not adding at the moment, but it's possible I'll add more again soon.
The only problem I have with that thesis is this. China does not give a rip about individuals. If the choice is between keeping a lid on met coal prices or some miners dying, it seems they would pick coal prices every time.
That's certainly possible.
My only point is that 80+ people died, and there is an enormous amount of attention on this accident right now.
But reopening mines too quickly and then having another major accident weeks later would be a much bigger problem. That doesn't seem like the most likely outcome to me.
The investigation has been taken over by the State Council, the highest level of government authority. The team dispatched by the State Council is conducting a rigorous and uncompromising investigation.
Under Chinese law, any accident resulting in more than 30 fatalities is classified as a "particularly serious accident," which automatically triggers a State Council-level investigation, potential criminal liability, and industry-wide safety inspections and reviews.
Do you own shares in Alpha, Sandro? If so, are you adding?
Alpha is roughly one-third of my portfolio. I've spent the entire year looking for investment ideas that are better, but I haven't found any. I'm not adding at the moment, but it's possible I'll add more again soon.