Does it mean that one should not buy even great companies like HDFC Bank, etc at any fancied price / at a multiple of more than 30 or P/BV of more than 5. The same is applicable for a quite a few companies in Sensex today trading at exorbitant prices. And this includes unlisted Reliance Retail / Reliance Jio also.
2 replies on “Munger on Buying Vs Holding”
Does it mean that one should not buy even great companies like HDFC Bank, etc at any fancied price / at a multiple of more than 30 or P/BV of more than 5. The same is applicable for a quite a few companies in Sensex today trading at exorbitant prices. And this includes unlisted Reliance Retail / Reliance Jio also.
Absolutely correct.