Guy in 1989: "Wow, those Nifty Fifty investors were so stupid."
Same guy in 1999: "Yes, a 250 P/E makes sense for Cisco."
Guy in 2011: "Wow, those tech bubble investors were so stupid."
Same guy in 2021: "Yes, 25x sales and a 450 P/E makes sense for a car company."
More from Market cycle
18-19% ROE wale being bought by institutions at anywhere b/w 12 and 20x price to sales. Not many liked this space in 2013. Not many hate it today. Social validation in investing is a big curse ...
Ghor ChemYug 😆
Ghor ChemYug 😆
#DeepakNitrite valuation is most attractive in the space...
— jeevan patwa (@jeevanpatwa) June 30, 2021
growth will be most explosive in the space... pic.twitter.com/8VYdWwFApY