Introduction In part 2 of this series I focused on how to value slow and moderately growing businesses. In this article, Part 3, I will shift my focus on how to value faster growing companies (growth stocks). My definition of a fast grower (growth stock) is one that has consistently compounded earnings at 15% per annum or …
AZO
Stocks 2014: Investing for Growth – The Power and Protection of High Compounding Earnings Growth – Part 2
As I become more mature (translate: gotten older), my investment philosophy has slowly evolved into a more conservative posture. When I was a younger investor I felt I had time on my side, and therefore, was willing to take on greater risk as long as I believed that greater rewards could follow. In other words, …
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A good growth company is always a nice addition to a portfolio, but you have to watch to make sure you are not paying too much. The old saying is: “You make your money on the buy side.” Looking at AutoZone (AZO) at a glance, we see that it normally trades (Normal Historical PE – …