We did get out of our strategic long position in CVRD, the Brazilian iron ore producer, in time for the end of the commodity bubble and shorted the other big iron ore groups.

• 我们最终调整了长期持有巴西铁矿石企业（CVRD）的做多策略，并在商品泡沫的最后阶段，连同其他大型铁矿石集团的的股票一起抛售。