It is easy to pick holes in every company's track record when looking in rear view mirror.
You can make the same criticism of a lot of oil and gas companies that generally invest in new projects at times of high prices. Look at the amount of LNG projects that got sanctioned at oil prices >$100/bbl and then they all got smashed when oil fell. It wasn't just an Origin story of misallocation. Look at any other oil and gas business at that time such Santos, Woodside and they all had trouble when oil prices fell in that period 2014/15+.
You cannot lay all the blame on current management of the company which is partly due to historic decisions. The market will not reward Origin through a higher multiple for being too levered so it is partly investors like you forcing some of these disposals and de-leveraging on the company.
Rather than whinging about current Origin management can you tell me if you have followed the advice you are giving to Origin management yourself? Did you buy Beach/Chevron in cyclical lows and sell in cyclical highs? If you did maybe you would be quite happy with yourself and you wouldn't be griping on here with 20/20 historical vision.
ORG Price at posting:
$9.60 Sentiment: Buy Disclosure: Held
(20min delay)