I remember a similar disregard for resources stocks around the Dotcom boom. BHP was so unloved it was sold down to $4….while complete junk ‘dotcom’ stocks were bid up to eye watering levels before they all came crashing back to earth.
The market at the time was divided between ‘old world stocks’ (digging stuff out of the ground - how backward) and the ‘new world’ tech stocks. I see parallels with today’s markets ….AI stocks vs the rest.
The tech revolution still requires a lot of stuff dug out of the ground ….resources stocks will eventually get sold down to a point where there is again a compelling case to buy them. While I’ve leaned heavily into IT growth stocks like WEB ….resources stocks still have a place in my portfolio.
WEB Price at posting:
$4.80 Sentiment: Hold Disclosure: Held
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