In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Despite the June 20 deadline, American Express is still a value investment. It is a well-run company with a lot of cash, a lot of float and a great deal of marketing creativity. People who buy Amex as a value investment; a dividend stock, or a growth stock will not be disappointed because American Express will survive and grow without Costco.
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Nothing to disparage Allstate here—it is still a good company—but the cash figures that Alphabet (NASDAQ: GOOGL) reported indicate it might be time to rethink some of our value investing theories. Tech companies, including Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN) and Facebook (NASDAQ: FB), now seem to be outperforming insurers like Allstate when it comes to some of the classic value criteria.
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