The Rising Influence of Rising Affluence

[DewDiligence]

BHP—Nasser said the tailwind is moderating—not that it is turning into a headwind. Moreover, as BHP cuts back on capital expenditures, it will have more cash available for share buybacks and dividends, which ought to help stabilize the stock price.

All told, it’s not a pretty picture, but I don’t see this as a sell signal or the undoing of the main premise for owning the stock.