Good Morning,
I wanted to let you know that I initiated another new position today. Again, this is a company that I have monitored for a long time. This company has sold at nosebleed valuations for a long time. Today it is still not cheap, but getting to a point I am comfortable initiating a position.
I like the business, and I believe the company has the competitive advantage, the moat, the scale and the brand to fend off competitors, and keep delivering for shareholders.
I would love for the stock to re-rate to a lower valuation, as I work my way over the next few months and build a position.