Buried in the back of BHP Billiton's statutory earnings report is a statement of risks and uncertainties. It is a formality that covers off on all the usual potential concerns such as changes in government policies, fluctuations in commodity prices and currencies. What it doesn't mention is the risk associated with generating too much cash.
But there comes a point when success creates its own risk and there is a school of thought that takes the view that BHP has fallen victim to this.
SMH
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