Eli Lilly: A Valuation in Perpetual Motion

The question, then, is not whether Eli Lilly is a successful company – that much is self-evident – but whether the price one pays for a share represents a claim on future prosperity, or merely a participation in a complex, self-perpetuating illusion. The analysts, those tireless scribes of potential, offer projections, of course. They speak of an upside of approximately seventeen percent, should their calculations prove accurate. But accuracy, in this instance, feels less like a promise and more like a temporary reprieve from the inevitable reckoning.







