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I think growth in value could be substituted for earnings in the case of something like Bitcoin or a stock without dividends
by frankbreetz 6y ago
I think growth in value could be substituted for earnings in the case of something like Bitcoin or a stock without dividends
- lottin 6y agoI don't think so, because we're using earnings precisely to assess if the observed increase in value is justified. Stocks without dividends are not a problem, because businesses always have earnings regardless of whether they distribute dividends or not.