No. of Recommendations: 2
All of our stocks have had P/S expansions in the last 1-2y. But what about Master card, Verizon? Even they have both increased their P/S by 50% in the last 5y.

Even Arista with slowing growth rates has a higher P/S now than 3 years ago

Classic signs of a late stage bull market? No bubble like 1999. But stretched valuations suggesting lower stock returns in next few years possibly?
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