this. Bad politicians using companies as scapegoats for an upcoming election. Blame them for inflation and dodgey practices to hide the record level of spending and immigration they did ultimately being the real culprit for inflation and housing crisis.
Creates opportunity in solid companies. I did it a few months back with Woolies and sold those and put into BHP around results season time. I didn’t expect round 2 of supermarket bashing from the pollies. Was purely luck per se I got out. Sold on valuation grounds of WOW being fully valued $35-$36, and BHP was sub $40 value play. Next year I wonder if they attack banks.
BHP Price at posting:
$42.40 Sentiment: Buy Disclosure: Held
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