12-01-2021, 06:45 PM
I still remember Apple traded close to PE of 10 in 2016. And people have been calling Amazon and Facebook monopolies since forever. Even today, Alphabet/Facebook doesn’t look particularly expensive IMO.
“If you buy a business just because it’s undervalued, then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies, then you can sit on your ass. That’s a good thing.” - Charlie Munger