…BHP has concentration risk on China, both iron ore and copper demand is China led, but along the way Copper took on the electrification narrative and people started forgetting Dr Copper.
…the trouble with large companies is that their management must be seen as doing something. WDS can’t simply stay with O&G but had to diversify into the green space, much to the chagrin of holders who only wanted higher dividends. Dividend hodlers just want their dividends, even if their stock never grew over 5 years. It’s not term deposit, if the company fails, dividends are slashed and when they do, their stock price comes tumbling down too. This is why divvy players don’t like buying Gold, no income. Physical Gold don’t make silly mistakes large company management do, when they do they simply make billion dollar provisions and life goes on as if it never matters.
