Boring staple type companies with mid single growth and low teens ROE had no business trading at 37-52x blended PE (Beiersdorf/Milbon) a few years ago. The correction might have some way to go in these, in my humble opinion, but possibly soon a good entry point for long term holds.
Boring staple type companies with mid single growth and low teens ROE had no business trading at 37-52x blended PE (Beiersdorf/Milbon) a few years ago. The correction might have some way to go in these, in my humble opinion, but possibly soon a good entry point for long term holds.
Agreed, if you are just looking to long probably best to wait, they aren't screaming cheap but a good relative trade I think.