Daily Insider: The astonishing crumbling in share prices of JSE’s resources stocks

START YOUR MORNING BY LISTENING TO TODAY'S BIZNEWS BREAKFAST BRIEFING – More pain for Rand; SA 'Failed State' getting closer; US bank quarterlies disappoint, hits US marketCatch up with the latest on BizNews.com.SA's secret sauce – Megans who make such a differenceDenel's in the dwang again auctioneers close in on assetsRobbing Peter to pay Paul not way to go – Anthea JefferyDA launches #CeleMustGo petitionAmalgamation of intelligence branches a recipe for abuseFlagpoles to blowing trumpets, Mthethwa's orchestra captureScaling investments in renewable energy… at right priceWarren Buffett's Berkshire plows more money into big oil – with insight from The Wall Street Journal (Premium)Rand's 17% three month plunge exactly offsets US tech stock market drop (Premium).The astonishing crumbling of JSE's resources stocks .While researching for this morning's BizNews Breakfast Briefing, I got sucked into some astonishing data. My Warren Buffett-inherited belief that the best companies to co-own are those leveraging human ingenuity has kept me away from resources stocks. Except to marvel at those who called their cycle correctly outperforming in the monthly Corion Report. .But after a 6% smack in the JSE's Resources index yesterday, I took a closer look. And was astonished how what has happened there makes the US's much publicised Tech Wreck appear mild by comparison..In the last four months while the Nasdaq dropped 17%, the share price of local mining hero Sibanye has halved (from R75 to R38); Impala has fallen from R275 to R152 and Kumba from R680 to R440..SA's other mining counters have had a similar experience. It's carnage wherever you look. What point might that prove? I really don't have a clue. Except to be reminded those kites which fly highest in the updraft also tend to fall fastest when the wind changes..UPCOMING EVENTS – SIGN UP NOW .BizNews Conference .The BNC#4 house full signs have temporarily been removed. Some rooms have been freed up through our team finding alternative accommodation and a few early bookers not meeting their deposits. If you want to stay on-site, here's your chance. But please act quickly, because the hotel's rooms are sure to be fully allocated soon. Click here for all the details and to register your interest..To receive the Daily Insider every weekday at 6am in your inbox click here. You can also sign up to the weekend's BizNews Digest for a wrap of the best content BizNews has to offer, for a leisurely Saturday read.

Daily Insider: The astonishing crumbling in share prices of JSE’s resources stocks

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