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I agree with the last meessage. The further it drops the better. Hopefully 50-60 for a couple years. But it never will. I really don't like companies with any debt so I will not buy more.I known lots of companies that aren't around anymore, Thrifty, Two Guys, Builders Emporium, Treasury, ... Thats what happens to companies with debt, they risk going too far.
While I can understand your apprehension regarding debt, I feel as though are aren't rationally thinking about it.Debt is a tool that can increase returns to shareholders. By borrowing money and buying back stock, EPS will grow all else equal.AutoZone is a stable company where debt can be used as a tool.