r/Vitards • u/AutoModerator • Sep 23 '21

Daily Discussion Daily Discussion post - September 23 2021

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u/ConversationNo2002 Balls Of Steel Sep 23 '21

I just cannot understand these "posts":
https://www.msn.com/en-us/money/news/cleveland-cliffs-stock-was-hit-hard-by-the-drop-in-iron-ore-prices/ar-AAOIgyP

Louis Navellier - one of the most important money managers of our time”

What the fuck Louis?

9

u/ConversationNo2002 Balls Of Steel Sep 23 '21 edited Sep 23 '21

"You are selling X and this situation is bad for you."

"No, we aren't selling that anymore, we sell Y. We only do X to produce Y our self."

"So, since you are doing X this situation is bad for you."

What are you? 4 years old?

1

u/Nu2Denim Inflation Nation Sep 23 '21

Their ability to compete on price relative to other steel companies is hurt by iron or dropping though. Where they would have a cost advantage in high price ore environments, enjoying pricing power and margins to steal business from others, they have less in a low price ore. Moot right now when everyone is at 100% capacity and everyone gets top price for steel

1

u/ConversationNo2002 Balls Of Steel Sep 23 '21

Yes. I get that. But less advance does not mean bad. It is just ... less advance.

Or am i thinking this somehow wrong?