David Sharek
David Sharek is stock portfolio manager at Shareks Stock Portfolios and the founder of The School of Hard Stocks.
Sharek's Growth Stock Portfolio has delivered its investors an average return of 18% per year since inception vs. the S&P 500's 10% during that time (2003-2020).
David's delivered five years of +40% returns in his 18 year career, including 106% during 2020.
David Sharek's book The School of Hard Stocks can be found on Amazon.com.
Last quarter, I thought Ctrip.com was “an expensive trip”. That was then (P/E of 51), this is now (P/E 37). So CTRP has gone from expensive to slightly undervalued.Over long periods of say a decade or so, I think a stock’s rate of growth will be similar the company’s rate of profit growth. I’ve owned CTRP on-and-off since December 1, 2004. During that time CTRP has proven the ability to grow profits at around 40% a year. 40 times earnings is a fair price for a 40% grower, so CTRP was expensive and now its not.
The real reason CTRP is undervalued this quarter is I am looking at 2011 estimates instead of 2010. Also, the fair value table shows upside through 2012 is excellent.
