YUM Brands Inc (YUM)

[FL]

I'm looking at the longer term -- for a doubling at least. I walk around China and I notice that they seem to like KFC (and the old Colonel himself) best of any foreign food. Much better than McDonald's. The KFC penetration in China is still modest and could grow 10x to 40x over time if KFC stays popular.

Someday dividends will be back in style, and if Yum! can deliver the 5 percent plus that I expect will become normal, without declining too much, then I'll keep it even as a "mature" profitable yielder.

By the time KFC becomes "mature" in China -- a long time from now -- it might be Africa's turn by then.