I just read that Google has a price/earnings ratio of 119.
Let me say that again because it's important: Google's price/earnings ratio is 119.
That means that their stock is worth 119 times their earnings. Hypothetically, this means people expect Google to grow, in the long term, by doubling seven times. Seven times.
They need to double.
Then double.
Then double.
Then double.
Then double.
Then double.
AND THEN FUCKING DOUBLE AGAIN.
Ok, so that's an oversimplification, but still...goddamn. It's like the beanie baby craze all over again.
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