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Author Bio
James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas.
Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends.
His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed.
Areas of Expertise
ASX shares
Growth and dividend investing
Broker research
Interpreting company announcements
Market news
Portfolio strategy
Long-term wealth creation
Education
Bachelor of Politics, Philosophy and Economics. CFA Institute
Social Media
LinkedInFavorite Investment Quote
"It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
— Warren Buffett
Published
There are plenty of good shares on the ASX. But being a good share and being a good investment at today's price aren't necessarily the same thing.
That is something I think investors should keep in mind, particularly when looking at some of the market's biggest and most popular names.
I've compared five ASX shares that have earned strong reputations over many years and each has qualities that could justify a place in a long-term portfolio.
The question is whether those qualities are already reflected in their share prices.
I've looked at their competitive positions, earnings outlooks, financial strength, and valuations before deciding which I would buy today and which I would rather leave on my watchlist.
I have no trouble seeing why BHP deserves its reputation as one of the best ASX mining shares.
Its copper operations are becoming increasingly important, and I think this is an excellent place to be positioned for the long term.
Copper is needed for everything from electricity networks and renewable energy to data centres and industrial equipment. Increasing demand, combined with the difficulty of developing major new mines, could support attractive prices over time.
BHP also has the assets, experience, and financial resources to invest in additional production without relying entirely on the success of a single project.
In FY 2026, copper overtook iron ore as its biggest earnings contributor, demonstrating how the business is changing.
My hesitation is the share price. After a rise of around 40% over the past 12 months, I think a lot of the good news is already reflected in BHP's valuation. That leaves me seeing BHP shares as roughly fair value rather than an obvious bargain.
In light of this, I would prefer to wait for a pullback before considering a purchase.
And as I worked through the other four companies, I found myself reaching a similar conclusion with several of them. They are excellent businesses, but their share prices don't necessarily offer enough value to make me want to buy today.
However, there was one exception. It is a company that I believe has a significant growth opportunity ahead of it, and unlike the others, its valuation still looks reasonable.
Of the five ASX shares I compared, it is the one I would be buying today.
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