January 26, 2018 12:50 pm eastern

I am going to add BHP Billiton to the site probably rated Speculative Buy with an emphasis on Speculative. I usually don’t look at commodity stocks but I am making an exception here. This is a huge and complex company and its value depends very heavily on commodity prices and it is inherently unpredictable. Nevertheless, I am going to take a modest position at not much over 1% of my portfolio. It trades as both BHP and BBL in New York. The company claims the two shares are economically equivalent and yet BBL trades at a discount to BHP. I am going to buy the cheaper BBL shares.