I totally understand. But I’m a long-term investor. I have a 10 year timeline, and I think the company is poised for continued very strong growth.
I have a stock with a nose bleed P/E that’s about the same as COST. As with you its a long hold and I have dug deep into the company’s fundamentals and catalysts for continued growth so I too am comfortable with it despite its high valuation.
As a general rule I pay a lot of attention to valuation metrics as stocks have a strong tendency to revert to mean.
That said, I understand where you’re coming from.