People were saying this in the 70's and 80's, then it blew right through the 90's. The current year looks very promising so I know which side I'd rather be on even at the lofty valuation.
Toy business is low growth and highly cyclical/volatile (think holidays); why would DIS want any part of that? Only scenario where this make sense is if it's done to acquire property rights and even then, I would see the toy making part being spun off at some point.
IMAX is still too dependent on performance of individual films. That should change when they can roll out enough screens, but that's a long ways off. There are always going to be quiet periods without a blockbuster and IMAX really underperforms then.
This stock had a lot of trouble breaking through 64-65. Thought about selling it each time it approached that threshold, and so glad I did not. What's scary is we've only scratched the surface of international expansion.
I don't disagree with your statements, but the value or their assets is also decreasing with the demand for coal.
How much organic growth can there be from their core business from decades ago? SJM would have been absorbed by a bigger player if they didn't try to become one themselves. They're still small enough to be acquired but the premium would likely be large enough to fend off most.
It's not important where it was 10 or 20 years ago. What's important for any stock you own, not just DOW, is where you bought in. I bought my shares $7-22 during the "recession". Aside from dividends I reinvest, I would never add to my position at over $30.