Subject: Re: a stock can stay overvalued for a long time
Say after this year Costco averages an eps gain of 7% for the next 20 years. Plug in $73 per share in earnings and give it a 14 PE and you have a $1022 stock price. With the price of the stock recently being $1076...

All kinds of things can happen in the US to make a large retail store chain that achieves 7% annual EPS growth over 20 years to be reasonably successful yet without the growth of the past.