ANGLOS: GO WOKE, GO BROKE!

Remember last year when Anglos got rid of their thermal coal assets in South Africa, doing the “woke politically correct” thing. Well, what another brilliant wealth-creating exercise. Look at what has happened to the coal “assets” (more like liabilities in Anglo’s eyes):

Oh, my gracious! Look at the valuations and returns.

Isn’t it bizarre? Just 7 months ago Europe was sending a delegation to South Africa with the aim of getting the country off coal. From Bloomberg:

Well, lookie here… fast forward 7 months:

We shake our heads, but we aren’t complaining. As you’ll recall we laughed at the absurdity of it all when it was happening.

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