WORLDVIEW: Shale gas disasters remind us how acting in haste means repenting at leisure

Most things appear obvious in hindsight. But when the emotions are stirred and the fever is high, it takes a strong constitution to reject popular opinion. When it comes to investments, however, failure to engage a directed mind can be very costly.

We were reminded about this reality earlier in the week after the release of the 2017 annual financial results from BHP Billiton. Specifically how the Melbourne-headquartered mining group finally caved in to shareholder pressure and will now unwind a six year old blunder.

In 2011, the group's young but highly respected CEO Marius Kloppers took a $20bn bet on the hyped-up US shale gas sector. The Pretoria University and MIT educated Kloppers, then 49, was four years into his term and riding the crest of the wave.

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