Barry I disagree with your conclusion that BHP is in serious trouble. My understanding is that as a entity it is still projected to make a net profit, albeit smaller than projected 12 months ago. It is a long term company should endure. In a few years global demand will increase and it will be well placed to capitalise on that. IT has the benefit of diversification.
Instead, its share price has been in difficulty, and no doubt will continue to fluctuate according to the market and actual and perceived demand.
It can be distinguished from those companies whose share price is in difficulty and who lack the ability to weather the current storm. Blue caps historically have also rebounded earlier than non-blue caps.
So I think it will recover and I think there is substantial long term profit to be made from these levels. The real issue is whether it might be possible to buy in at substantially reduced levels soon. I think both Buffet and Rockerfeller said you needed get the absolute bottom, nor sell at the absolute top.
BHP Price at posting:
$21.10 Sentiment: None Disclosure: Held
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