WHat hard figures is this based on? Are you using management projections? It seems very much like a very ethereal numbers game rather than something that's very emperic, tangible, and easily measured.
The market certainly seems a lot more cynical than you about the forward projections and IIRC historically companies with an aggressive growth and acquisitional management tilt tend to offer on average lower returns.
Not having a gripe. Just asking sincere questions in the hopes you can convince me to top up whilst I'm down.
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