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DewDiligence

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DewDiligence

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Re: DewDiligence post# 249

Wednesday, 06/16/2010 7:37:23 AM

Wednesday, June 16, 2010 7:37:23 AM

Post# of 30545
Bizarre reason for BHP downgrade:

http://www.marketwatch.com/story/bhp-billiton-fresnillo-lonmin-cut-at-jp-morgan-2010-06-16

Mining giant BHP Billiton was downgraded to underweight from neutral at J.P. Morgan with the broker saying that the move reflects the firm's valuation premium to peers and lack of operational and financial leverage to any one commodity.

This is funny because BHP’s broad diversification is the main reason I consider it a core Natural Resources holding. (Please see the table in #msg-40564651 for details.)


“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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