Limited biased view, the way to look at HUL could be:
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A large venture fund, managing a portfolio of brands, that has a lot of cash and can buy out any emerging competition to any of its categories. It can compete and when it can’t it can take over
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An alternative to bonds with reasonable capital appreciation and growing dividends built in. From that reference point getting 10-12% with growing dividends could be appealing. Then the PE debate may not be that significant
Disc: Invested, biased.
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