In 1984 one BHP share was able to be bought for $4. If you held onto that share it would now be worth about $76. That does not include divies. If you bought BHP 2months ago at $45, it is now also worth $38.
So is BHP an 18 bagger or is it a loss making dog?
It all depends on your timeframe.
Same with PNA, OZL and other resource stocks. Sometimes the sp reflects the true value of the company, other times, it overstates the true value and sometimes it understates the true value.
A friend once told me that in the short term, the share market is a gamboling machine, in the long term it is a weighing machine. Davej56, you need to decide whether you are a gambler or an investor.
HT1
PNA Price at posting:
$3.37 Sentiment: None Disclosure: Not Held
