Correction

A mistake in a paragraph in the last post. Paragraph should have read:

However, nothing excites markets more than forecasts of markets doubling in five years (a magical number in  finance which equates to a 15% compaound annual growth rate over five years (1.15^5*[2.01])) forgetting that earnings discounted that far out at a discount rate that reflects the risk could easily absorb any rational return calculations.

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