The PE multiple for Apple was 14 ($500 billion ÷ $37 billion = 14 times). This is low for a good business. The PE multiple of the ten-year treasury bond was 33 times (1 ÷ 0.03). The ten-year treasury bond is an alternative investment to Apple. We can invest in the ten-year treasury at 33 times or Apple at 14 times. Apple is less than half the PE multiple of the ten-year treasury. It is the better bet.
Nao fez muito sentido
