03.10.2008 - Were the Platinum Group Metals afloat on an Ocean of Asian liquidity?
From Resource Investor: During the summer I wrote here of the strong anecdotal case being made in Detroit that linked the sharp reduction, then underway, in the price of rhodium, as well as a more gradual decline, at the same time, in the price of platinum. It was due to an unwise and undisciplined inventory reduction by a major car company in the midst of its own ‘liquidity’ crisis. After the article came out it was pointed out to me by a prominent industrial, but non-automotive, buyer of rhodium that the rapid fall might have also have been due in part, or even all, to the collapse of the hedge fund run by Ospraie Management, which had a history of taking outsized positions and even physical possession of platinum group metals. ..... Full Article: Source