best stock on the asx, page-22

It seems odd to me that some people seem to only concentrate on short term B/S when we all should look at long term fundamentals.
Both BHP and RIO are are on 2009 P/E's of 10 or less which means if you hold the stocks for 10 years then they will earn their share price in that time and that earnings will either come back to shareholders in the form of dividends or share price appreciation.
Obviously both BHP and RIO both think that the current demand for their products will continue for longer than the 10 years that it will take to return our purchase costs even if we buy today.
Most companies that have a growth profile like this have much higher P/E's and that is eventually the bluesky for us all.
These companies, apart from being massive blue chip companies, are extremely well placed with interest cover for BHP of around 29 times and RIO around 19 times and by looking at their developement pipelines they are investing many more Billions of dollars over the next 10 years to capture even more of this demand.
We should just invest, hold, certainly review to see that things are still on track and that some idiot in the world does not want to start the next world war or whatever but still be focused on the basics of accumulating wealth by buying good solid companies. It does not make sense to panick and jump in and out of stocks on others whims that get posted on HC at times.
Charts etc do not tell you that the fundamentals of a company are good they just assist you to get into these good companies at a preferable time and also exit at a preferable time if you need to get out for cash flow reasons(more likely retired people).
Would be interested to hear if most people think this to be sound comment or not???

Golfnut