As usual, Jesse, you're right, but I was talking about the near term. I have no doubt in the long-term integrity of the diamond market. If I had, I wouldn't be an investor.
As for sources, I used Hilton Ashton's report dated 27 February 1998, wherein he explains:
...the diamond industry is in turmoil following a serious knock to the South East Asian markets. These markets have, until recently, been considered to be the growth area of the diamond industry.
If the competition between existing producers intensifies, the diamond industry, traditionally held together the CSO cartel, is in danger of entering a period of declining prices.
Now, with that outta the way, I wonder what prompted Nobby's (what a nickname!) sudden split?
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