rajah

Investing since 2013. INCOME & GROWTH.

[CapexAndChill @CapexAndChill]

This past week, the Federal Housing Finance Agency officially blew up $FICO's decades-long monopoly. They announced that Fannie Mae and Freddie Mac will immediately accept a rival credit model, VantageScore 4.0. This caused FICO's stock to tank hard but it already made a solid recovery.

FHFA Director Bill Pulte and HUD Secretary Scott Turner officially announced that approved lenders can use VantageScore 4.0 right now. FICO's own modernized score, FICO 10T, is delayed. Its historical data will not be fully released to the market until this summer. This gives VantageScore a massive head start. For the first time in history, mortgage lenders do not have to pay FICO a toll to close a standard conforming loan.

In the last few years, FICO aggressively hiked its wholesale prices, pushing the cost of a tri-merge credit report from under $2 in 2022 to roughly $30 in 2026. Senator Josh Hawley has been aggressively going after FICO. He sent strict letters to the DOJ and the FTC demanding antitrust investigations. He explicitly called out FICO for doubling its per-score price to $10 in 2026 alone, arguing these hikes crush first-time homebuyers. The political heat is real, and it likely caps FICO's ability to just raise prices whenever it wants.

$EFX is subsidizing VantageScore 4.0 to make it cheap at $4.50. In response, FICO is started a wild new strategy. They proposed dropping the upfront cost of a score to just $0.99, but adding a hefty success fee of around $60 to $65 on the back end when a mortgage actually closes. Director Pulte is already publicly discussing the hope for a 99 cent pricing model. This is a smart defensive move by FICO. It stops the political complaints about high upfront application costs, but it makes FICO's revenue highly dependent on actual closed loan volumes instead of just application pulls.

Now, let's not forget... FICO has massive structural advantages. The secondary market controls everything. Wall Street buys Mortgage-Backed Securities, and they hate uncertainty. FICO has decades of performance data that survived the 2008 financial crisis. Institutional investors will likely demand FICO scores to feel safe. FICO also still has a total stranglehold on credit cards and auto loans. And FICO is deeply embedded in bank infrastructure through its enterprise software platform, which boasts a massive 122% net retention rate. Banks do not easily rip out core software.

FICO is transitioning from an unregulated monopoly to something a little more regulated. The massive drop in FICO's stock price is finally pricing in the DOJ antitrust risks and the end of infinite price hikes. However, FICO's deep roots in Wall Street securitization and global banking software mean they will remain a cash-generating fortress.

[rajah @Stocks4EVER]

@WillBiddy_ These numbers have source or just guess?

[Barry Schwartz @BarrySchwartzBW]

lots of dividend increases so far in 2026, for Baskin Wealth's portfolio companies

Moody's 10%
TMX Group 10%
First Service 11%
Ferrari 15%
Stryker 5%
Watsco 10%
Garmin 17%
MSCI 14%
Coke 4%
Taiwan Semi 20%
Brookfield Asset 15%
Brookfield Infrastructure 6%
Brookfield Corp 17%
Restaurant Brands 4%

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

15 Quality Stocks With Forward FCF Yields Above the Risk-Free Rate (3-Month T-Bill: 3.60%) 💵

1. $FICO 3.61%
2. $NFLX 3.61%
3. $TDG 3.65%
4. $MA 3.78%
5. $MCO 3.84%
6. $MSCI 4.03%
7. $CPRT 4.07%
8. $NVO 4.09%
9. $V 4.12%
10. $APP 4.32%
11. $MANH 4.53%
12. $SPGI 5.04%
13. $NOW 5.30%
14. $INTU 6.22%
15. $CSU 7.10%

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

20 Quality Compounders Return on Capital Employed (ROCE) >30% over LTM 💸

1. $NFLX 30%
2. $TSM 30%
3. $CTAS 31%
4. $BLK 33%
5. $PM 34%
6. $VLO 35%
7. $NVR 36%
8. $V 38%
9. $KLAC 42%
10. $ASML 43%
11. $MTD 44%
12. $LRCX 46%
13. $STX 51%
14. $MA 60%
15. $IDXX 62%
16. $APP 63%
17. $AAPL 65%
18. $BKNG 68%
19. $NVDA 81%
20. $FICO 89%
___

𝘼 𝙝𝙞𝙜𝙝𝙚𝙧 𝙍𝙊𝘾𝙀 𝙧𝙖𝙩𝙞𝙤 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚𝙨 𝙢𝙤𝙧𝙚 𝙚𝙛𝙛𝙞𝙘𝙞𝙚𝙣𝙩 𝙘𝙖𝙥𝙞𝙩𝙖𝙡 𝙪𝙨𝙖𝙜𝙚 👇🏽

𝐑𝐎𝐂𝐄 = 𝐎𝐩��𝐫𝐚𝐭𝐢𝐧𝐠 𝐏𝐫𝐨𝐟𝐢𝐭 (𝐄𝐁𝐈𝐓) ÷ 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐝

𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐏𝐫𝐨𝐟𝐢𝐭 (𝐄𝐁𝐈𝐓) = profit before interest and taxes

𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐝 = total capital used in the business*

*Commonly calculated as Total Assets − Current Liabilities 𝘖𝘳 Equity + Long-term Debt
___

Imagine a car wash business:

You invest $1,000,000 to build it (land, equipment, machines)

Each year, the car wash generates $200,000 in operating profit (before interest & taxes)

ROCE = $200,000 ÷ $1,000,000 = 20%

𝘛𝘩𝘪𝘴 𝘮𝘦𝘢𝘯𝘴: For every dollar tied up in the business, the company generates 20 cents of operating profit per year

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

15 Quality Stocks That Reduced Share Count >10% Over the Last 10 Years 💵

📊Moody’s $MCO
•2015 shares: 203.40M
•LTM shares: 180.60M
•% reduction: 11%
•EPS boost: 12%

🖱️Alphabet $GOOGL $GOOG
•2015 shares: 13.86B
•LTM shares: 12.23B
•% reduction: 12%
•EPS boost: 14%

🎨Sherwin Williams $SHW
•2015 shares: 283.63M
•LTM shares: 250.40M
•% reduction: 12%
•EPS boost: 14%

🚛Old Dominion $ODFL
•2015 shares: 256.14M
•LTM shares: 211.60M
•% reduction: 17%
•EPS boost: 20%

💿KLA $KLAC
•2015 shares: 163.70M
•LTM shares: 132.65M
•% reduction: 19%
•EPS boost: 23%

💸Mastercard $MA
•2015 shares: 1.14B
•LTM shares: 0.91B
•% reduction: 20%
•EPS boost: 25%

💳Visa $V
•2015 shares: 2.44B
•LTM shares: 1.92B
•% reduction: 21%
•EPS boost: 27%

🏦Fair Isaac $FICO
•2015 shares: 32.61M
•LTM shares: 24.34M
•% reduction: 25%
•EPS boost: 33%

🖨️Lam Research $LRCX
•2015 shares: 1.77B
•LTM shares: 1.27B
•% reduction: 28%
•EPS boost: 39%

🏢NVR Inc $NVR
•2015 shares: 4.26M
•LTM shares: 3.07M
•% reduction: 28%
•EPS boost: 39%

🌐MSCI Inc $MSCI
•2015 shares: 109.93M
•LTM shares: 76.64M
•% reduction: 30%
•EPS boost: 43%

💽 Applied Materials $AMAT
•2015 shares: 1.23B
•LTM shares: 0.83B
•% reduction: 33%
•EPS boost: 50%

📱Apple $AAPL
•2015 shares: 23.17B
•LTM shares: 15.00B
•% reduction: 35%
•EPS boost: 54%

✈️ Booking Holdings $BKNG
•2015 shares: 51.59M
•LTM shares: 32.92M
•% reduction: 36%
•EPS boost: 56%

🚘 O’Reilly Auto $ORLY
•2015 shares: 1.52B
•LTM shares: 0.86B
•% reduction: 43%
•EPS boost: 75%
___

*EPS BOOST means how much earnings per share increased (assuming 0 growth) solely from share buybacks💰
___

𝘼 𝙨𝙝𝙖𝙧𝙚 𝙗𝙪𝙮𝙗𝙖𝙘𝙠, 𝙖𝙡𝙨𝙤 𝙠𝙣𝙤𝙬𝙣 𝙖𝙨 𝙖 𝙨𝙩𝙤𝙘𝙠 𝙧𝙚𝙥𝙪𝙧𝙘𝙝𝙖𝙨𝙚, 𝙞𝙨 𝙬𝙝𝙚𝙣 𝙖 𝙘𝙤𝙢𝙥𝙖𝙣𝙮 𝙪𝙨𝙚𝙨 𝙞𝙩𝙨 𝙤𝙬𝙣 𝙛𝙪𝙣𝙙𝙨 𝙩𝙤 𝙗𝙪𝙮 𝙗𝙖𝙘𝙠 𝙞𝙩𝙨 𝙤𝙬𝙣 𝙨𝙝𝙖𝙧𝙚𝙨.

𝘽𝙮 𝙙𝙤𝙞𝙣𝙜 𝙩𝙝𝙞𝙨, 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮 𝙧𝙚𝙙𝙪𝙘𝙚𝙨 𝙩𝙝𝙚 𝙩𝙤𝙩𝙖𝙡 𝙣𝙪𝙢𝙗𝙚𝙧 𝙤𝙛 𝙤𝙪𝙩𝙨𝙩𝙖𝙣𝙙𝙞𝙣𝙜 𝙨𝙝𝙖𝙧𝙚𝙨 𝙖𝙫𝙖𝙞𝙡𝙖𝙗𝙡𝙚 𝙩𝙤 𝙩𝙝𝙚 𝙥𝙪𝙗𝙡𝙞𝙘, 𝙩𝙝𝙪𝙨 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙞𝙣𝙜 𝙮𝙤𝙪𝙧 𝙥𝙚𝙧𝙘𝙚𝙣𝙩𝙖𝙜𝙚 𝙤𝙬𝙣𝙚𝙧𝙨𝙝𝙞𝙥 𝙤𝙛 𝙛𝙪𝙩𝙪����𝙚 𝙚𝙖𝙧𝙣𝙞𝙣𝙜𝙨 𝙖𝙣𝙙 𝙛𝙧𝙚𝙚-𝙘𝙖𝙨𝙝-𝙛𝙡𝙤𝙬𝙨.

𝙔𝙤𝙪 𝙘𝙖𝙣 𝙪𝙣𝙙𝙚𝙧𝙨𝙩𝙖𝙣𝙙 𝙬𝙝𝙮 𝙒𝙖𝙧𝙧𝙚𝙣 𝘽𝙪𝙛𝙛𝙚𝙩𝙩 𝙞𝙨 𝙖 𝙗𝙞𝙜 𝙛𝙖𝙣 𝙤𝙛 𝙨𝙝𝙖𝙧𝙚 𝙗𝙪𝙮𝙗𝙖𝙘𝙠𝙨.

𝙄𝙣 𝙝𝙞𝙨 2022 𝘼𝙣𝙣𝙪𝙖𝙡 𝙇𝙚𝙩𝙩𝙚𝙧, 𝘽𝙪𝙛𝙛𝙚𝙩𝙩 𝙬𝙧𝙤𝙩𝙚:

“𝙏𝙝𝙚 𝙢𝙖𝙩𝙝 𝙞𝙨𝙣’𝙩 𝙘𝙤𝙢𝙥��𝙞𝙘𝙖𝙩𝙚𝙙: 𝙒𝙝𝙚𝙣 𝙩𝙝𝙚 𝙨𝙝𝙖𝙧𝙚 𝙘𝙤𝙪𝙣𝙩 𝙜𝙤𝙚𝙨 𝙙𝙤𝙬𝙣, 𝙮𝙤𝙪𝙧 𝙞𝙣𝙩𝙚𝙧𝙚𝙨𝙩 𝙞𝙣 𝙤𝙪𝙧 𝙢𝙖𝙣𝙮 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨𝙚𝙨 𝙜𝙤𝙚𝙨 𝙪𝙥. 𝙀𝙫𝙚𝙧𝙮 𝙨𝙢𝙖𝙡𝙡 𝙗𝙞𝙩 𝙝𝙚𝙡𝙥𝙨 𝙞𝙛 𝙧𝙚𝙥𝙪𝙧𝙘𝙝𝙖𝙨𝙚𝙨 𝙖𝙧𝙚 𝙢𝙖𝙙𝙚 𝙖𝙩 𝙫𝙖𝙡𝙪𝙚-𝙖𝙘𝙘𝙧𝙚𝙩𝙞𝙫𝙚 𝙥𝙧𝙞𝙘𝙚𝙨.”

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

Updated NTM P/E & FCF Yields — Companies That Reported in the Last 2 Weeks💵

$V 24x | 4.10%
$GE 41x | 2.64%
$MA 27x | 3.70%
$NVR 17x | 5.83%
$BRO 16x | 6.78%
$WM 26x | 4.20%
$ADP 21x | 5.50%
$GEV 52x | 2.46%
$FAST 35x | 2.17%
$DHR 26x | 3.67%
$TMO 23x | 3.24%
$FICO 32x | 2.90%
$NOW 28x | 4.77%
$ASML 41x | 1.73%
$META 24x | 1.27%
$MSCI 31x | 3.46%
$KLAC 38x | 2.18%
$ISRG 50x | 2.24%
$AAPL 29x | 3.78%
$LRCX 40x | 1.94%
$NFLX 26x | 3.28%
$MSFT 24x | 2.06%
$NDAQ 25x | 4.27%

*Multiples not adjusted for SBC

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

15 Quality Compounders PEG <2.00 📈

1. $TDG 1.99 🛩️

2. $ASML 1.96 ☀️

3. $V 1.87 💵

4. $MA 1.63 💳

5. $MSFT 1.58 ☁️

6. $META 1.49 📸

7. $INTU 1.46💰

8. $NOW 1.44 📊

9. $FICO 1.41 🏦

10. $AMZN 1.39 📦

11. $NVDA 1.35 💽

12. $NFLX 1.35 📺

13. $MELI 1.11 🤝

14. $CSU 0.98 🌌

15. $TSM 0.95 📀
___

*PEG (NTM P/E ➗ 26’ - 28’ EPS CAGR Est)

**($NVDA 27’ - 29’ EPS CAGR Est)

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

The average FCF margin across $SPY is ~10%

Here are 15 companies with FCF margins ≥30% or 3x the market — in other words, for every $100 of revenue, they produce $30+ in FCF💰

1. $LRCX 30%
2. $CPRT 30%
3. $MCO 32%
4. $ALAB 32%
5. $BKNG 32%
6. $INTU 33%
7. $ASML 34%
8. $KLAC 34%
9. $NOW 35%
10. $FICO 36%
11. $SPGI 36%
12. $PANW 39%
13. $NVDA 41%
14. $PLTR 46%
15. $ICE 46%
16. $ANET 48%
17. $MSCI 49%
18. $MA 52%
19. $APP 54%
20. $V 55%

*LTM FCF Margin

[Will Biddy @WillBiddy_]

I spent a couple hours looking at some of these recommendations, and I have added $RMS.PA $TDG $RACE and $ADP to my watchlist for the time being. I'm gonna do some more research on these in the near future, and begin following these companies closer as they all look like appealing businesses.

Still have more recommendations to take a look into, but I appreciate everyone that left recommendations for me.

Thank you!

[Matthew Harbaugh @themattharbaugh]

Dev Kantesaria on how AI will affect $FICO $SPGI $MCO

"As it relates to displacement of things like FICO consumer credit scores, Moody's ratings, S&amp;P ratings- they're toll collectors... they're stamps of approval."

[Emir M | Type-F Capital @em013L]

$FICO This company has unparalleled pricing power. In fact, increasing prices by 725% for their FICO scores in a couple of years put them in the crosshair of the FHFA (Federal housing finance agency).

However, they just found a way to increase their price by another ~700% in a single year! The best part is that they operate such a systemic moat, that even when their competitors offer their product _FOR FREE_, no institution switches over from FICO.

This is the kind of company that comes to mind when people say things like "compounding" machine. Ever wondered what that looks like? Well, here, I'll show you. 26% compounded EPS growth despite the past years being the bottom of the cycle (high interest rates, housing crisis).

The best part about FICOs score segment is that it is so unbelievable capital light, that their MASSIVE 88% operating margins are almost all converting into FCFF.

Now imagine another ~700% price increase; what that would do for revenue- and earnings compounding.

To understand how their pricing power is so immense, we first need to understand how it works when a FICO score is pulled. It is quite simple:
1. Consumer inquires about a loan to a lender
2. Lender pulls a FICO score from the 3 credit bureaus (equifax, transunion, experian).
3. The credit bureaus have the consumer data, but need to get the mathematical scoring model from FICO.
4. FICO provides the scoring model and collects a royalty from each of the 3 bureaus.

The royalty was fixed at $4.95 in 2025, up from $0.60 in 2018. That's where the 725% increase comes from. However, what is $4.95 (or ~$15 on a tri-merge basis) in the grand scheme of overall mortgage closing costs? Pennies, unnoticable. FICO could increase the royalties much further, and it would still be a drop in the bucket compared to hundreds of thousands, if not millions of dollars borrowed.

The FHFA targeted FICO for their pricing power, blaming them for causing the housing crisis due to their price hikes, saying it deters from getting a mortgage. The truth of the matter is that the FICO score cost is immaterial, and only represents a tiny fraction of overall mortgage costs.
- In a $500,000 home sale example, a FICO score needs to ben pulled 2000 times to equal a realtor commission at 6%.
- If the mortgage broker charges 1.8% in fees, FICO score would need to be pulled 600 times to equal the broker fee.
If the FHFA wants to combat expensive housing markets, FICO is not the target as it only represents 0.003% of the closing costs in the $500,000 example.

So what did FICO just do to allow them to increase their prices by another ~700%? They combat the FHFA by launching a "direct license model". This offers two transparent options for a lender:
- A flat $4.95 fee, with a $33 funded loan fee if the mortgage closes (670% increase in price)
- Flat $10 per score, no funded loan fee (100% increase in price)

The reason this works is because this is transparent in the invoice. It is clearly outlined what the cost for the FICO score is, as opposed to a bundled cost from the credit bureaus where they apply their own margin, often 5-10x the cost of the FICO score itself. Resellers are used for the direct license model, and the 3 credit bureaus still receive a fee for providing their data, but they aren't able to hike the prices massively with their own margin.

Scores revenue grew 27% in 2025 after exiting the bottom of the cycle in the years prior. With the new pricing model, I expect we may see an extreme acceleration in FICO scores and FCFF.

For my full equity research report that covers FICOs whole business (including their software segment), with intrinsic value models and more, check the comment section below 👇

[Jon Erlichman @JonErlichman]

Things smartphones replaced:

cameras
maps
gps devices
calculators
alarm clocks
tv’s
radios
camcorders
pay phones
yellow pages
answering machines
newspapers
calendars
vcr’s
flashlights
watches
timers
compasses
mail
cookbooks
keys
cash
airline tickets
photo albums
magazines
money
voice recorders
scanners
walkie talkie
tv remotes
translators
playing cards
diaries
travel guidebooks
offices
foreign phrasebooks
portable speakers
takeout orders by phone
cds
dvds
encyclopedias
photocopiers
compact mirrors
bank branches
checks
rulers
address books
parking meters
rolodexes
dictionaries
mp3 players
portable cd players
audio cassettes
cassette players
tape decks
vhs tapes
beepers
pagers
handheld game consoles
film rolls
instant cameras
slide projectors
slide viewers
fax machines
typewriters
notebooks
planners
receipts
coupons
flyers
catalogs
brochures
instruction manuals
itineraries
tickets
boarding passes
parking permits
bills
invoices
memos
letters
landline phones
wallets
tape measures
thermometers
fitness trackers
remote controls
business cards
printed photos
phone books
cd-roms
floppy disks

[rajah @Stocks4EVER]

@mply_cap Hard pile!

[Invest In Assets 📈 @InvestInAssets]

🏰25 World-Class Compounders for 2026

https://t.co/5e11E2ECSm

[Invest In Assets 📈 @InvestInAssets]

30 Visual Investing Lessons 🧵

1. Moats are essential for long-term investors:

[Dimitry Nakhla | Babylon Capital® @DimitryNakhla]

20 Quality Stocks With Estimated EPS CAGR >15% Over Next 3 Years 💸

1. $MA +15%
2. $GE +15%
3. $SNPS +15%
4. $ABNB +17%
5. $ASML +17%
6. $LRCX +17%
7. $HWM +18%
8. $MSFT +18%
9. $TDG +18%
10. $TSM +18%
11. $ANET +20%
12. $NFLX +21%
13. $AMZN +22%
14. $FTAI +24%
15. $FICO +26%
16. $APP +28%
17. $NVDA +33%
18. $AVGO +37%
19. $MELI +41%
20. $GEV +62%

[The Future Investors @ftr_investors]

The ROIC measures how well a company uses its money to make profits. Here are 30 Quality stocks ranked by ROIC. Selection criteria:
- Marketcap >10B
- Revenue growth last 5Y >10%
- EPS growth last 5Y >10%

1. $DPZ - Domino's Pizza - 57,8%
2. $AAPL - Apple - 44,7%
3. $MA - Mastercard - 44,0%
4. $UI - Ubiquiti - 43,1%
5. $CF - CF Industries - 36,2%
6. $LCRX - Lam Research - 35,5%
7. $NVR - NVR - 34,9%
8. $IDXX - Idexx Laboratories - 34,6%
9. $ASML - ASML - 33,9%
10. $KLAC - KLA Corporation - 33,3%
11. $ULTA - Ulta Beauty - 33,3%
12. $AMAT - Applied Materials - 31,5%
13. $POOL - Pool Corporation - 31,4%
14. $LULU - Lululemon - 29,7%
15. $INFY - Infosys - 27,7%
16. $MSCI - MSCI - 26,9%
17. $ADBE - Adobe - 25,6%
18. $ANET - Arista Networks - 25,6%
19. $QCOM - Qualcomm - 25,4%
20. $MPWR - Monolithic Power - 25,3%
21. $MSFT - Microsoft - 25,3%
22. $DECK - Deckers Outdoor - 25,2%
23. $TSM - TSMC - 24,2%
24. $FTNT - Fortinet - 24,1%
25. $RMS - Hermes - 23,7%
26. $STLD - Steel Dynamics - 23,4%
27. $SIRI - Sirius XM - 22,7%
28. $ACN - Accenture - 22,6%
29. $ADYEY - Adyen - 20,08%
30. $CPRT - Copart - 20,03%

Source: @ChartMill

What are your favourite quality stocks with high ROIC?

[Dan Niles @DanielTNiles]

My 2026 Top 5 Picks have defense & offense:
$CSCO “Keep Riding the AI wave”– corporate upgrade cycle
$BA “I love big backlogs I cannot lie” & ramping cash flow
$NKE “Just Do It”-Turnaround w/ depressed multiple & EPS
$AAPL “Better Late than Never”- AI enabled foldable iPhone
$PI “The time has come”- RFID tech at an inflection point

I will put out a more detailed write-up on each name this Sunday as well as the overall positive and negatives I see for the market as a whole. I wanted to keep this post shorter given my @CNBC interview on New Year’s Eve with @davidfaber and @saraeisen got into each name in a bit more detail.

These picks are for investors that cannot short stocks to manage risk, do not have access to the same hedging tools available to me or do not have time to manage a portfolio full-time as I do. These are my best ideas right now for an investor that wants to buy a basket of stocks and not trade it for the rest of the year. The goal is to not update this list unless I think I have really gotten the thesis drastically wrong on a name. Past performance is not indicative of future results.

To be clear, for my own investments, position sizes of all names including my Top 5 Picks below are constantly being adjusted depending on my view of the future risk adjusted returns. I also have many more positions than just my 2026 Top 5 Picks.

While these are my best five ideas for 2026 based on the information I have today, my thoughts are constantly evolving based on new information & the reaction of the stock market to that data. In addition, a good hit ratio is 60% so I would expect three of the names to outperform while two are likely to under-perform. Hopefully in aggregate the results will not only be better but less volatile than the overall market. This was certainly helpful in March/April of 2025. Sleeping well at night is worth something.

As always, the key will be to remain intellectually flexible and data dependent. As Charles Darwin said, "It is not the strongest of the species that survives, nor the most intelligent, but the one most adaptable to change."

Happy New Year and I wish you all a prosperous 2026.

[Stocks World @anandchokshi19]

Bank of America says, these 6 stocks will lead the $1 trillion chip surge in 2026:

1. Nvidia (NVDA)
2. Broadcom (AVGO)
3. Lam Research (LRCX)
4. KLA (KLAC)
5. Analog Devices (ADI)
6. Cadence Design Systems (CDNS)