Recent Investment for April 7th, 2025

Good Morning,

I wanted to let you know that I made an investment this morning, into an existing holding that finally started to sell at a decent valuation.

My experience in the past few years has taught me that during a market correction, it is preferable to invest money into the wish list quality type companies that are rarely in the fair value teritory. Types of companies like that include the likes of Microsoft, Automated Data Processing, Visa, Waste Management, Republic Services, Sherwin-Williams, Moody's, Accenture etc. I would love to buy/add to any of these companies on dips below 25 times forward earnings.

I realize that we are in a fast moving situation, where earnings forward estimates will likely come down, but so are share prices. We are talking about buying on a scale down, not lumping everything in at once too. By averaging in a position, I smooth things out a bit. This also provides me with the opportunity to change course/change my mind if I see evidence that my assessment is wrong. That way I will keep my position exposure lower.