For some interesting insights into the executive mindset among...

For some interesting insights into the executive mindset among some of MND's largest clients, have a scan through the presentation pack released by BHP today which relates to BHP's Capital Allocation Framework.

After decades of mis-allocating capital, and having destroyed hundreds of billions of dollars of shareholder wealth, the industry leaders appear to have finally had their road-to-Damascus epiphany.

What this means for the likes of MND in the short-term is probably not that much, in the scheme of things. But over the longer term, it probably means less BUYING of stuff that others have built (i.e., the making of acquisitions, because that's where the most significant value destruction has occurred) and more BUILDING of their own stuff.

Which would be a good thing for companies that are in the business of building stuff; companies like MND.