Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Is Fortescue the speculative buy of a lifetime?

|Includes: Fortescue Metals Group Ltd (FSUMF)

Fortescue metals group.  Look it up.  Warren Buffet has said "no new rails lines are being built" and yet here is a companay that spent $4.4 billion to do just that in Australia in the late 90's and now is reaping the harvest of one of the great business plays of the 20th century.  They bought Australian iron ore deposits for basically nothing because Rio-Tinto and BHP had the only rail line running to the ore supply, prices seemed permanently depressed and nobody thought it possible.  That changed when Fortescue rasied the capital and built the rail line and now has an active port with actual ore getting loaded and being sold all over the world. 

Disclosure: no position