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Overpaying for quality

In 2000, Walmart traded at 40x PE and market cap was $250 billion.

Over the next decade, Walmart continued to grow, earnings went up, dividends went up, and everything went well for the company.

But stock didn’t pass 2000 peak for another 13 years. pic.twitter.com/5WntdGn2Jh

— Jonathan Tepper (@jtepper2) July 15, 2020

via Twitter https://twitter.com/jtepper2

July 15, 2020 at 07:30PM