Glencore, the once poster child of the roaring commodity boom gone awry, was recently in the news for the wrong reason. Bloated with massive debts, a result of over bullishness in acquisition of high priced resource based assets, Glencore's share price has bounced off its lows, though still very much lower than its peak.
A collective sigh of relief not just from the highly strung financial markets, but Glencore's multitude of lending banks. But are the troubles truly over?
History do provide an interesting observation. In every bull market there is always a hot new stock.
But like the shooting star in the dark sky, the illumination is intense but short.
In the Subprime crisis in yr 2008, Lehman brothers was the poster child.
In the Internet bubble of early 2000, Canadian telecoms giant Nortel degenerated into a wimp of a company post crash
And in the Asian Crisis, Aokam Timber, the blue eye boy of the over exuberant investors sunk into the abyss.
And for those of a certain vintage, you might remember Pan El, a company that left many an investor in deep freeze.
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