Readers know I’m a permabear. Maybe if things are priced right, everyone’s a buyer which makes them mispriced again. But wow- those Google earnings were Incredible. To boot, they implemented a $70 billion share buyback, a $0.20 per share per quarter dividend and for a $2 Trillion market cap company, they are trading … well, Frankly, incredibly. At ~22x forward earnings, they are amongst the cheaper of the magnificent 7 stocks and are proving, when you are the biggest game in search, it’s easy to remain the only name in advertising. The cracks in the stock market will have to wait another week.
It’s best not to perpetuate Newspeak terms like unrealized gains—it’s really theft. And those high capital gains taxes are confiscatory.
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