> Incorrect.

Okay, you got me. I was reflecting the prudent way long-term players generally interpret the market. But from time to time external macro-economic and/or geopolitical factors may shift. Those changes may persist over time or eventually swing back like tides. Other times someone thinks they've got a new angle or a new technology (the RDRAM format was a notable attempt). Occasionally, the people who always say "But this time it's different" are lucky enough to actually say it one of the rare times it IS different.

Time will tell if CXMT's gambit will pay off. Even if it doesn't maybe their state sponsors will absorb the losses for other strategic reasons.