Eddy Elfenbein submits: Peter Lynch said he remembers people telling him 25 years ago that Wal-Mart (WMT) just couldn't get any bigger. That's an argument against a stock you should always ignore. With capitalism, profits are like jello...there's always room for more.
Check out this chart of Eaton Vance, the asset manager (EV):
Pretty spiffy, no? Thirty years ago, you could have picked up some shares for about $4 a piece. Adjusted for splits, that comes to 2.7 cents a share. In thirty years, the stock is up 100-freaking-fold.
So what's Eaton Vance's current market share of the mutual fund industry?