The biggest turnaround story in Australia
BHP has been an underperformer for over a decade now. Troy Angus, Head of Large Caps at Paradice Investment Management, says this has largely been due to “hideously bad capital management.” But with a new Chairman and a shift in management’s focus, could all this be changing?
“Management and the board have squandered an unprecedented commodity price boom via poor capital expenditure decisions. However, there’s a new Chairman, and management is coming around to the view that they need to preserve capital, not overinvest in uneconomic projects, and return that excess capital to shareholders.”
In the short video below, he explains why BHP is one of the largest positions in his portfolio.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Livewire Exclusive brings you exclusive content from a wide range of leading fund managers and investment professionals.
1 topic
1 stock mentioned
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
The 7 zombie companies lurking on the ASX 300
Livewire Markets
Education
Warren Buffett’s 25 biggest mistakes – and 4 lessons they teach
Leithner & Company Ltd