The more things change the more they stay the same. Long term readers of MB will remember the Sykesnado of 2015. That was when readers took legendary financial journalist and stock picker, Trevor Sykes, to the cleaners:
Not only does the plunge in BHP Billiton shares following the Minas Gerais disaster in Brazil look overdone, but questions about the miner’s ability to keep paying its progressive dividend ignore the cash still pouring into its vaults.
On it went month after month as big iron ore miners were smashed by falling commodity prices. By year-end, Trevor Sykes might have been the most unpopular stock tipper in Australia given he also celebrated crazy bank valuations on equally unstable dividends.
