If the speculative bubbles and crashes across market
history have taught us anything (particularly the repeated episodes of recklessness we've observed over the past two decades), it's this: regardless of the level of
valuation at any
point in time, we have to allow for the potential for investors to adopt a psychological preference toward risk - seeking speculation, and no amount of reason will dissuade them even when that speculation has already made a collapse inevitable over a longer horizon.
Agribusiness tends to be volatile (but usually self - correcting), so we might actually see that peak margin turn up this year, or maybe we'll see 12.5 % after 3 years, or maybe the margin is only 7 %
in 5 yrs time but revenues have increased 40 % + at that point... In terms of margin history, and revenue growth potential, I'm v happy with my current valuatio
in 5 yrs time but revenues have increased 40 % +
at that
point...
In terms of margin history, and revenue growth potential, I'm v happy with my current valuatio
In terms of margin
history, and revenue growth potential, I'm v happy with my current
valuation.