Chipotle Mexican Grill, Inc. (CMG), Priceline.com Inc (PCLN), Panera Bread Co (PNRA): 3 Multibaggers From 2007’s Market High

With the growing network effect of its hotels, its history of smart acquisitions and online booking penetration still relatively low in emerging countries, Priceline.com Inc (NASDAQ:PCLN) may yet have a decent growth runway ahead of it.

PCLN data by YCharts

Bakery-cafe restaurateur, Panera Bread Co (NASDAQ:PNRA) is also no deflated dough, either. Panera Bread Co (NASDAQ:PNRA)’s focus on fresh bakeries with a concentrated franchisee model has supported consistent, high-quality growth while it expanded from 1,168 to 1,673 stores. Its catering services and MyPanera card have also helped increase weekly average store sales by 23% over the time period. This performance led Panera Bread Co (NASDAQ:PNRA) shares to almost a four-bagger.

Looking ahead, if Panera Bread Co (NASDAQ:PNRA) is able to achieve even a fraction of rival Subway’s 39,314 stores worldwide, shareholders could well look forward to decades of growth.

PNRA data by YCharts

Thank you, Captain Hindsight

To be sure, this is not to show the reader the power of 20/20 hindsight. Observant readers would have noted that the stock prices for the three companies chosen were not the best possible stock prices obtainable throughout the period. It becomes obvious that the performance of the business behind the ticker managed to outlast the imperfect initial stock price, as well as the imperfect high market level.

In other words, successful investing has hardly ever been about catching the perfect bottom price, or selling at the perfect top stock price, in equally perfect market conditions.

Instead, the key lesson that we can take from investing in potential market highs is to keep our focus on the underlying growth of great business at all times, in spite of the market conditions.

If you try to own great businesses,  and continue to study those businesses over the long term, you could profit handsomely over the long term — even if you start during a market high.

The article 3 Multibaggers From 2007’s Market High originally appeared on Fool.com.

HL Chin owns shares of Chipotle Mexican Grill, Priceline.com, and Panera Bread. The Motley Fool recommends Chipotle Mexican Grill, Panera Bread, and Priceline.com. The Motley Fool owns shares of Chipotle Mexican Grill, Panera Bread, and Priceline.com. HL is a member of The Motley Fool Blog Network — entries represent the personal opinion of the blogger and are not formally edited.

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