Here is the chart of McDonald’s PE during the past 10 years:
If you know the business really well, do you have to be a genius to
find out that it’s cheap at 13 time forward earnings? And if you have
the right temperament, is it that hard to buy something that you know is
cheap? And if you buy it cheap, is it unreasonable that you outperform
The above may sound too easy to be true. Yet I can guarantee only a
handful investors can do that. In investing, the simplest thing are
often the hardest to do.