Some good posts on this thread today.
Beagle talking about a lost decade.. it happened to another great company- Microsoft. After the dot com bubble the SP dropped 40% and then did nothing for 10 years as its earnings growth slowly ate away at its lofty peak P/E of 60.
But if you were a long term investor in Microsoft and bought at the very peak of the dot com bubble and held for 22 years until today you would still have a 400% total return (higher than the S&P 500). If you bought after the dot com bubble and held through the zero movement lost decade all the way until today you would have a 900% return. Pretty good!
Back to FPH. Those that bought at recent highs all good... you may just have to settle for a 400% return over the next couple of decades. And those buying now and around the new lows in the months to come.. it could be very lucrative in the long run.
(This all excludes dividends which is just a bonus for holding)