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| There is a totality to all of this, Apple was one example, Google issuing a 100 year bond would be another. I mean who would buy a 100 year bond from GOOGL? I could maybe see a 30 or 50 year bond from a railroad or something like that but what is GOOG going to look like in 100 years? Anyone? Anyone? I just think that is nuts. Also, it sucks but you are at least getting some yield on treasuries. In my Apple example you are getting in effect a 2.12% return vs 3.7% in ST treasuries. it would be one thing if we had ZIRP where you didn't really have much alternative.. I dont know. When I dont understand the game I dont play. And one more thing on Apple, they are using a huge chunk of their FCF on share buybacks. So if it does turn out they are significantly overvalued all that money piled into effectively a 2.12% return sucks. Alas, i have no answers. Everyone who has owned these megacaps have been wildly rewarded, to date.... | |
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Apple
