Editor's note: The following is a speech Bill Fleckenstein gave in Las Vegas over the weekend at the Las Vegas Precious-Metals Conference. It was originally published on RealMoney.com on April 29. To sign up for a RealMoney free trial, please
|Hershey's Milk Chocolate Bar |
The price per ounce grows ever sweeter
|Source: Fleckenstein Capital|
Interestingly enough, however, the value of Hershey's stock, since it came public in 1927, is up about 295-fold, with one share purchased at $39.58 now worth 180 shares at roughly $65 dollars. Even after adjusting for inflation, as I have calculated it, that's still a gain of 14 to 15 times in after-inflation terms. Obviously, Hershey's has been one of the rare, huge winners.