That is an unfair assessment . I dont think it was ever...

That is an unfair assessment . I dont think it was ever presented as 'news' - just a comparison of two investors strategies. You forgot to mention that the person that who bought in 2016 also benefits from divs, and is even more in profit . I think the main point here is not the absolute postions but the relative difference based on their timing of the market . Plus the opportunity cost of the money not invested in 2014 on BHP has not been considered and probably would have made the position of the second buyer even better ...