As long as earnings growth is high, share price returns will be quite decent unless valuations go out of complete whack. In case you are interested, I did a similar exercise on the valuepickr stocks (link). The main conclusion was if we pay high valuations and earnings growth turns out to be <15%, we pay a very hefty price in terms of long term decompounding of money. The best case returns is when we buy a business at reasonable or cheap valuations and business ends up delivering above average earnings growth.
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