the only thing bhp is good value relative to is its own stock price form higher commodity price points
its expensive vs rio, massively expensive against quality diversified mid caps - Igo being my personal pick, and expensive vs banks and healthcare in roe
that said, the market will always pay a premium for the biggest lowest cost 'all cycle' portfolio - so value isnt really the issue, its about entry points
for me that will be when oil truns around - ealry to mid next year
between now and then - when overall broader market sells off again - bhp is a no fly list for me
we shouldnt forget US market is now in a bear market. looks to me like this will be an indian summer rally up tunil end of Nov then a sell off ahead of FOMC
BHP Price at posting:
$20.16 Sentiment: Sell Disclosure: Not Held
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