I have the same view and people/traders act on the emotion and depending on what US market do they buy or sell along with the market which makes it easier to predict.
CSL is a high PE stock but not the same with Apple or Facebook and they have a different business and CSL is always and will continue to be a high PE business. The business model is so specific and they are the biggest and the most profitable one in the world and not affected by economic downturn so emotion has influenced the price tremendously.
I remember at 38 it was "expensive" and it was a high PE etc etc and then 230 so in years to come it will have a potential to be much higher than 230
Small parcel relative to one's capital maybe worth holding.
CSL Price at posting:
$182.32 Sentiment: Hold Disclosure: Held
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