Mining: Efficient markets

Chip Goodyear finds investors frustrating. The outgoing head of BHP Billiton thinks it’s unfair that they pushed down the giant miner’s shares fell along with those of financial institutions. Fickle investors certainly make an easy target. But this time, they might be seeing further than the industry’s leaders. True, the industry’s 8-9% growth rate - in tonnes of material produced - is about twice that of world GDP. For Western investors, miners are one of the best ways to play rapid growth in t...