I don’t think it is as simple as that. 5 years can be considered as long time too. A lot can happen in both the business of a company, and with us too. After 2 years, you may not want to hold the stock for any reason.
Valuation while expensive today, which is again subjective, might not be the same as the company grows, and if the company indeed grows, the price does not fall much, it may in fact move up absolutely or relatively. One way to gauge this is to look at demand. Not that this gauging is perfect or it can be done quickly, but we will have some idea of looking at the valuation from the point of view of participants, if we follow the price. So if a business is growing, and can grow, price can go up for continuously.
The opposite is also true, if indeed the future growth of the foreseeable future is reflected in the current price, then the price may fall some, but there could be time correction.
So one can have a position, follow the business, take actions in accordance with price/demand/market.
Not invested in Bectors, following the thread, have a position in Britannia.
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