A commenter, Capeman, disagrees on the quality of Starbucks: You're clearly wrong on this Karl. Starbucks coffee tastes nothing like battery acid... it tastes like burnt ass.
I am happily unable to confirm that comparison. I have, occasionally, gotten Starbucks' coffee, unembellished, or in a double espresso, in desperation, when trapped at a mall or an airport. I didn't think it was that bad. I drink multiple
Anyway, Denninger mocks:
Naw, nothing to see here with a 7,554 P/E
He continues laying down sarcasm like a '70s burnt orange shag carpet:
Now to be fair the company's stock IS only selling at 3.7x sales, which is better than some. But it also has a profit margin of a hefty 0.06%, if I'm reading the latest data on Yahoo Finance correctly, which is obviously a highly-sustainable business. After all, out of nearly $15 billion in sales it had a prodigious $8.3 million in net available to the common shareholder.
With insanity like this, how can anybody think that the stock market is a good place to invest? It's a financial killing field.