Nifty 10

Part Deux

In our May 13th substack, we compared the current market dynamic to the late 1960s “one decision” stocks where investors had their list of high growth, secular compounders and you just bought them and never sold.  Ergo, one decision:  To Buy. The P/E multiples back then got to outrageous 40-90 times earnings which, with the benefit of hind-site, was a …