Why I Bought BHP

First, NUE was at an all-time high while BHP has been trending lower. BHP has a much higher yield of 4.99% vs 1.1% for NUE, but their expected 2024 EPS result in approximately the same P/E ratios. I also don't approve of Nucor's massive stock repurchases.

I usually like to keep a few metal/commodity stocks in my portfolio, which is based on a very complex structure to neutralize most exogenous variables/changes and to grow at 3%-5% more than the rate of inflation over many decades. I do a few short-term trades, but with only a tiny portion of my portfolio because I am just trying to preserve capital.