BHP bought 1.5 million shares today. They report this on their website. Pretty amazing how much stock they’ve bought back. The stock buy backs along with their regular dividends and diversified commodity base makes them one of my favorite stocks. Plus the fact that everyone I know isn’t harping on about them (like Qualcomm in 1999) makes it even more attractive.
Along with Anglo American (AAUK), these two are great commodity plays. Plus they’re both down over 5% this week makes it a good time to jump in. I plan on holding both for a long long time.
As usual, do your own Due Diligence. If you don’t know what that means or how to do it, put your money in ING Direct instead!
Today’s market rebound was disheartening. Even though my portfolio is down on the whole, my invesrse S&P500 fund was up 7% yesterday. Now I don’t know whether I should hold it or bail. On the other hand, if we saw another day like yesterday, I could exit and take my profits! But then gain, everyone else seems to be really happy with the rebound. I guess thats the closest we’ll ever get to world peace. I’ll take it 😉