The lower valuation multiple is good for the buy back, and all else being equal, the shares will still rise broadly inline with earnings growth.
The ESG discount is a pain now that I own the shares, but it also means that there is a built in margin of safety when I purchased, because the multiple cannot get a lot lower before "value investors" step up.
I am also hopeful that there will be times in the future that the multiple will expand beyond the low 20s, hopefully I have the foresight to offload some at that point. However, easier said then done!
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The lower valuation multiple is good for the buy back, and all...
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1 | 19 | 52.000 |
1 | 75 | 51.850 |
1 | 100 | 51.500 |
2 | 351 | 51.000 |
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---|---|---|
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53.530 | 94 | 1 |
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