Turkey of the week: overheating copper stock

The price of copper soared to an all high time high recently. But Paul Hill thinks copper miners, including this one, could be about to get their fingers burnt.

Back in 2003, Alan Greenspan, the last chairman of the Federal Reserve, slashed interest rates to 1%. He was aiming to protect the American economy from recession. However, an unintended consequence of this policy was to fire up the US housing bubble, which eventually caused the 2008 crisis.

Now the Fed is doing it again. The official aim of its quantitative easing (QE) programme is to reduce bond yields and pump up asset prices. On the latter front, QE has proved a resounding success at least in the commodities market. Spot copper prices blasted through all-time highs of $10,000 a ton last week.

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Paul gained a degree in electrical engineering and went on to qualify as a chartered management accountant. He has extensive corporate finance and investment experience and is a member of the Securities Institute.

Over the past 16 years Paul has held top-level financial management and M&A roles for blue-chip companies such as O2, GKN and Unilever. He is now director of his own capital investment and consultancy firm, PMH Capital Limited.

Paul is an expert at analysing companies in new, fast-growing markets, and is an extremely shrewd stock-picker.