Is waiting for low PE a mistake? Recently, when I’ve been looking into growth stocks, I keep coming across this idea: valuations are already very high, and the market has priced in several years of perfect performance. So if results even slightly miss expectations, the stock could get re rated and see a sharp pullback. I understand this logic, and I’ve definitely seen plenty of examples where that happens. When reality doesn’t meet expectations, the stock price pulls back pretty noticeably. But when I look back at companies that eventually grew into major businesses, it doesn’t seem that simple. Many of them always looked “expensive” during their rise. Even as valuation multiples compressed over time, their fundamentals kept getting stronger customer growth, improving pricing power, expanding margins, and continued business expansion. The stock might go through periods of volatility or pullbacks, but over the long term, the trend seems more driven by execution than by valuation compression alone.…