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Given Glasenberg's reputation and large personal stake in Glencore, the company is unlikely to offer meaningfully over what the market believes, rightly or wrongly, Rio is worth, but I think it is foolish to underestimate Glencore, given the success of the company to date.

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    Quiz

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    Barbra Streisand's first line in her first movie was...?
    A "Hello, Dolly!"
    B "Hello gorgeous!"
    C "Papa, can you hear me?"
    D "Hi, I am here!"