Brett Cleary pitched Albemarle February 28th, 2017. Unfortunately, he was very unlucky with the time of his pitch because Albemarle rallied from around $92 to $101 per share after their earnings release the day prior. However, Brett still had a bullish view on lithium due to the rise of lithium demand (ie. Lithium batteries) and electric vehicles in China. In addition, he explained that lithium prices are expected to stay high until around 2020. For example, the price of lithium carbonates has more than doubled since 2005. Therefore, Brett recommended using cash to buy 20 shares of ALB at the market price. However, after discussion, the class decided to ask Brett to come back the next day after having time to come up with a new suggestion due to the huge spike in the ALB’s stock price. Thus, Brett came back on February 29th with an updated DCF and proposal. He proposed to buy 50 shares of ALB with a limit buy order of $97.50 using available cash later through a put on-board. The motion passed 25:4.