This time last year, some of the country’s most prominent fund managers were counting the cost of sitting out of the dazzling rally in Commonwealth Bank as the lender’s ballooning weight on the S&P/ASX 200 Index punished those who avoided the stock because it had become too expensive.

Now, investors are facing a similar predicament after soaring copper prices rocketed BHP’s shares to yet another record above $68 on Tuesday that has cemented its title as the ASX’s most valuable company with a market capitalisation of $343 billion.

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