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No. of Recommendations: 11
The tabled data was obtained from Yahoo Finance (e.g., dividend/split adjusted historical quotes) with help from https://www.fastgraphs.com/ (for P/E's and spot-checks). Whether totally reliable I cannot say; but that's not the point. So, what is the point?

Curiosity killed the cat. Or, Mark Twain's "a man who carries a cat by the tail learns something he can learn in no other way" comes to mind. Well... though I agree with The Brooklyn Investor that a 28+ P/E on the S&P isn't necessarily high in a TINA 0% world, it still feels a bit bubbly to me. So why not revisit history and take a look back at the stock market and a selected basket of stock returns since the last time Mr. Market was popping the cork... circa 3/9/2000 when the Nasdaq Composite broke 5000?

This select list includes companies Berkshire owns or has owned in the past (e.g., UNH sold May 2010), and others including ones I own or track; but primarily it includes stocks we've talked about on this board.

For kicks, why not divide the historical ROI (annualized, times 100) by current P/E; then sort the list by that number?
(Last column.) Everyone knows TLSA and NFLX have been going gangbusters and would top the pure ROI list; so why not take a different look; say from a value investing standpoint even if perhaps using a crude yardstick? (Not PEG)

Historical ROI Stock Begin Adj Div&Splits 1x Annual Current ROI
Company Name SYM Date Quote 5/7/21 Gain ROI P/E P/E
----------- --- ----- ----- ----- ----- ----- ----- ---
General Elec GE 3/9/00 22.93 13.30 0.6 -2.54% 142.3 0.0
Carnival Cruise CCL 3/9/00 14.28 26.76 1.9 3.01% n/a 0.0
Macys Inc M 3/9/00 10.54 17.68 1.7 2.47% n/a 0.0
Cisco Systems CSCO 3/9/00 51.72 53.43 1.0 0.15% 16.6 0.0
Booking Hldgs BKNG 3/9/00 562.13 2,327 4.1 6.94% 165.8 0.0
Marriott Hotels MAR 3/9/00 10.26 146.69 14.3 13.39% 188.5 0.1
Exxon Mobil XOM 3/9/00 21.44 62.43 2.9 5.18% 65.6 0.1
Walt Disney DIS 3/9/00 28.05 184.84 6.6 9.31% 89.9 0.1
Vail Resorts MTN 3/9/00 14.01 312.80 22.3 15.80% 99.3 0.2
Intl Bus Mach IBM 3/9/00 67.18 145.46 2.2 3.72% 15.4 0.2
Coca Cola KO 3/9/00 14.20 54.51 3.8 6.56% 26.9 0.2
Qualcomm QCOM 3/9/00 43.60 137.85 3.2 5.59% 21.7 0.3
Nasdaq Index ^IXIC 3/9/00 5,047 13,752 2.7 4.85%
SPDR S&P500ETF SPY 3/9/00 94.76 422.12 4.5 7.31% 28.1 0.3

Tesla Inc TSLA 7/2/10 3.84 672.37 175.1 60.94% 222.3 0.3
Walmart Inc WMT 3/9/00 33.15 140.20 4.2 7.05% 25.7 0.3
Chipotle CMG 1/26/06 44.00 1,426 32.4 25.55% 91.9 0.3
AmericanExpress AXP 3/9/00 26.71 158.98 6.0 8.79% 31.4 0.3
Amazon Com AMZN 3/9/00 68.81 3,292 47.8 20.04% 71.1 0.3
Microsoft MSFT 3/9/00 31.76 252.46 7.9 10.29% 33.8 0.3
BankofAm BAC 3/9/00 12.54 42.18 3.4 5.90% 18.4 0.3
Costco Whlse COST 3/9/00 31.34 384.32 12.3 12.57% 39.1 0.3
Markel Corp MKL 3/9/00 115.50 1,220 10.6 11.78% 31.9 0.4
AT&T Inc T 3/9/00 14.17 32.16 2.3 3.95% 10.1 0.4
Merck & Co MRK 3/9/00 27.88 78.41 2.8 5.00% 12.8 0.4
Berkshire BRK.B 3/9/00 28.00 290.93 10.4 11.69% 29.3 0.4
Verizon Comm VZ 3/9/00 20.25 58.72 2.9 5.16% 11.8 0.4
Wells Fargo WFC 3/9/00 9.08 49.95 5.5 8.38% 18.4 0.5

Abbott Labs ABT 3/9/00 7.93 118.95 15.0 13.64% 28.8 0.5
US Bancorp USB 3/9/00 8.87 49.78 5.6 8.49% 17.0 0.5
Johnson&Johnson JNJ 3/9/00 21.22 168.50 7.9 10.28% 19.7 0.5
VISA Inc V 3/31/08 14.25 232.12 16.3 23.72% 43.1 0.5
Netflix Inc NFLX 5/31/02 1.08 503.84 466.5 38.31% 66.4 0.6
Alibaba Group BABA 9/30/14 93.89 225.31 2.4 14.17% 22.2 0.6
Mastercard MA 5/31/06 4.19 375.40 89.6 35.09% 54.2 0.6
BankofAm BAC 11/30/10 9.56 42.18 4.4 15.28% 18.4 0.8

Apple Inc AAPL 3/9/00 0.94 130.21 138.5 26.22% 29.5 0.9
Qualcomm QCOM 9/3/97 2.04 137.85 67.6 19.46% 21.7 0.9
United Health UNH 3/9/00 5.14 417.65 81.3 23.08% 23.9 1.0
LKQ Corporation LKQ 10/6/03 1.97 49.78 25.3 20.14% 18.0 1.1
Brookfield BAM 3/9/00 0.74 46.44 62.8 21.59% 14.7 1.5
Altria Group MO 3/9/00 1.42 49.95 35.2 18.31% 11.2 1.6

Conclusion: I'm unsure, but find myself asking (over and over) if some of the current-day high-flyers will sustain enough continued 'growth' to justify their ask @ today's auction. A long-term historical perspective can't hurt, can it?

We each must eat our own cooking.
FWIW a two cents worth,
L

Ps: Corrections welcomed.
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