Sabbath - so correct imo.
I held BHP for quite a many years and sold last year around $37. I could see what was coming for iron ore fortunately which tipped me out.
But I also realised BHP was only in my portfolio 'because it's BHP'. It was dead space in my portfolio which I had given a free pass to.
The reality is most materials businesses lose money as Buffett knows hence we he stays away from them generally speaking. They're price takers. Yes, BHP has the best resource assets blah blah but at the end of the day, they're still can't set their own prices.
As the Red Ponzi, China, continues to crash (despite the official growth figures saying 6.9%... LOL), commodity prices will continue to get hammered. Even iron ore the crown jewel will be heading under $30/ton imo.
The resource party is over folks, imo. Time to finish that last beer off, pick up your coat and head home.
imo
Worth it at any price?, page-21
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Last
$43.58 |
Change
-0.320(0.73%) |
Mkt cap ! $221.4B | |||
| Open | High | Low | Value | Volume |
| $43.75 | $43.82 | $43.48 | $81.17M | 1.865M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 2784 | $43.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.58 | 436 | 6 |
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| Last trade - 11.56am 11/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |