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| Correct, if the growth is high enough the price can be quite high and it still makes sense. But take Walmart for example, imagine how difficult it will be for that company to grow much faster than GDP. So maybe you GDP+1 or 2%, if you are lucky? And again, that is if none of the mentioned factors goes against them (taxes, interest rates, wages). Also, I think any of the benefits from the vaunted AI will accrue to the customers in the end. I don't see anyway that doesn't get competed away in the retail space. So anyway, its a general argument about how expensive things are... | |
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Land rich and cash poor
