The Mania We Just Ended Was Not 19 90

quality has so captivated the minds of investors because it gives them comfort that the mania we just ended was not 19 90. Back then there were no earnings, no return on capital and very little cash stacked up on balance sheets. Jeremy seagel argued in his bookstocks for the long run, that investors could have paid the highest prices ever for these securities and still almost beat the market 25 years later,. becauset the quality of the business was so good. The only issue is that there are companies before that have found t selves in this same situation as to day. They produced higher earnings growth and higher returns on capital than the rest of the s and p 500, but still

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