I am long in VALE (currently around 8% of my assets). Jim Cramer recommended VALE a while ago as being the cheapest play on commodities - and I agree to that. It is currently a tad underperforming (not sure why) but that should go away soon. What I like is that VALE is mining in 21 different nations and thus is a bit stable when it comes to political changes. It isn't only mining iron, it is also mining copper and some others. It also bought two fertilizer companies for potash. With agro products rising in price that can only be good.
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