This is just back of the envelope, but 24 years ago Microsoft's [EDIT: split-adjusted] stock price was .10. With today's price at $28, that is an annualized ra

This is just back of the envelope, but 24 years ago Microsoft's [EDIT: split-adjusted] stock price was .10. With today's price at $28, that is an annualized rate of return of a little over 26%, which should exclude the $5.79 they've distributed in regular and special dividends since they instituted their policy in 2004. Also, the criteria for investing money you've described is baffling. I thought return on invested capital was based on earnings, not stock price. I think you are confusing sentiment with fundamentals.