As a small retail investor I feel compelled to respond to Robert Gottliebsen’s report ‘BHP’s low-cost opportunity pipeline’, to express my personal views. In May 2008, BHP share price reached $50.00 but then fell to $20.00 in November 2008 before recovering to $50.00 in July 2011. From there the share price fell to $30.00 in August 2012 and since then the share price has followed the general upward movement to reach its current level of $36.00, all the time offering a measly grossed up yield of just over 4%. This is apart from several poor business decisions by management along the way including (with Rio Tinto) the loss of dominant position and control of iron ore prices for (apparent) short-term gains which has proven to be a nightmare. Now it must provide higher volumes at lower cost to meet its obligation. The Chinese are laughing all the way to the bank. Plus, to make amends, BHP won’t even give its shareholders back some of its misused capital. Our “No. 1” is not a preferred stock of mine by any measure. Better opportunities elsewhere.