Fortune And Glory
US equities are expensive, and the "Magnificent 7" even more so.
Those observations are hopelessly trite. I know.
But one thing I've learned over -- checks watch -- seven years now writing for public consumption, is that weekends are where complex analysis goes to die. It's not that readers aren't willing to engage on weekends, it's just that they don't want to think too hard, which I suppose is understandable.
Personally, I can't turn it off. The thinking, I mean. It never stops. Paradoxical
I can’t turn it off either H, thanks for the post.
Your site has become a ‘must see’ stop multiple times daily. I’m certain we have become better-informed investors but, perhaps equally, also more astute citizens in this, our foundering state
So great that you, H, have been so willing to take the time and effort to share your passion with people you have not even met- and not just be content to live out your thoughts privately in your mind.
It has been a very educational and thought provoking 7 years for meā¦ā¦but I hope for at least 7 more!
If we prepay, can we get a commitment from you?
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Thank you so much- and enjoy Dial of Destiny
Void filling efforts always welcome here…
If not now when? I think all the time too!
The Seven Samurai include some names with, in my view, reasonable valuations (around 5-6X P/S and 20X P/E NTM) and some with, again in my view, unreasonable valuations (10X+++ P/S and 50-60X P/E NTM).
If one believes these are the new defensives, then consider PG’s 4.5X P/S and 23X P/E NTM. Instead of paying that for an old defensive, would you pay an extra couple P/S points for huge FCF, higher growth past and future, and exposure to the jazzy new AI thing?