XAM Chart, page-170

Stocks that haven’t done anything in 20 years, let’s say, might start to do well – like BHP, iron ore, etc. That’s one theme that I think will last a long time,” Eisman says.Successive BHP chief executives would take issue with the idea that BHP has done nothing for 20 years – the stock is up 390 per cent over that period, compared to the 189 per cent rise in the MSCI World Index.But Eisman is right that an end to the global capital investment drought – and particularly one with the energy transition in mind – should benefit one of the world’s largest producers of iron ore and copper.

Source AFR -