While the two firms have flirted openly for years, Davis reportedly refused to seriously consider combining the companies without a reliable valuation on which to base the premium Glencore would have to pay to for Xstrata.
With many American stocks still quite appealing on a valuation basis, and Washington steadily expanding the monetary base in an attempt to support the labor market, high net worth individuals might be well served in the long run to carefully adjust their portfolios sooner rather than later.