Originally Posted by
Beagle
Depends on your comparison timeframe. Couple of people on here about 4 years ago went out on a limb and called that there was going to be a number of years of underperformance, because of a significant period of outperformance before that. They were right but I no longer hold that view. They listed in 1999 at $1.35 and have had a 5:1 share split, so adjusted IPO price is 27 cents. 19 years later they are >$12. This is more than 44 times your money so over the lifetime of the company they have dramatically outperformed.
If one looks out a decade I think on the balance of probabilities they will beat the market. Currently they're about $1 north of where I see good value, so are simply fair value in my view.
Fair value with a fantastic brand, great business model, excellent management and very strong demographic tailwinds = substantial wealth creation in the years ahead provided the politicians don't sabotage this sector.