Wisedel Capital

$MA is a fantastic business to own. During the latest earnings call, they revealed that 60% of VAS revenue is now network-linked Even if VAS has lower margins, its high growth and incremental margins are the reason it's operating margin has expanded from 53% to 57% in '25

@ariaradnia Hey Aria, still trying tu justify your sale of $GOOGL?

$GOOGL trailing P/E less than forward 🤔 I’m sure it’s nothing

@DimitryNakhla I’ve been so tempted to buy either one but I haven’t because I’ve been adding to $MA & $MELI Any preferences between $SPGI or $MCO Dimitry?

Breathing is involuntary. So is the need for capital. What breathing & $SPGI / $MCO have in common👇🏽 Think about breathing. You’re doing it right now. Right now, your body is 𝐢𝐧𝐡𝐚𝐥𝐢𝐧𝐠 oxygen — a process that takes just a few seconds. Then comes a brief 𝐩𝐚𝐮𝐬𝐞. In that pause, your lungs are exchanging gases, converting oxygen into what your cells need to function, and preparing CO₂ for release. Then the 𝐞𝐱𝐡𝐚𝐥𝐞. And without thinking about it — 𝙮𝙤𝙪 𝙗𝙧𝙚𝙖𝙩𝙝𝙚 𝙖𝙜𝙖𝙞𝙣. $SPGI and $MCO work the same way. Corporations and sovereign nations need access to capital the way living organisms need oxygen. The 𝐢𝐧𝐡𝐚𝐥𝐞 — debt issuance, new ratings, capital markets activity. Then a 𝐩𝐚𝐮𝐬𝐞 — where the agencies are quietly embedding themselves deeper into the financial system, becoming more indispensable with every transaction they touch. Then the 𝐞𝐱𝐡𝐚𝐥𝐞 — a slowdown in issuance, a quieter cycle. But what inevitably happens? 𝙏𝙝𝙚𝙮 𝙣𝙚𝙚𝙙 𝙩𝙤 𝙗𝙧𝙚𝙖𝙩𝙝𝙚 𝙖𝙜𝙖𝙞𝙣. The mistake most investors make is evaluating these businesses on a 2–3 year lens. What you’re doing in essence is interrupting the breathing cycle before it completes — and forfeiting the compounding that comes from letting it run. The difference is that while a breath for a human takes seconds, for corporations and sovereign nations it can take many, many years. Patience isn’t optional here — it’s the whole game. Will you compound in the high teens? Maybe not. Are there faster growing businesses? Absolutely. But there are very few businesses you can say — with the same certainty you have about your next breath — will be more integral to the global financial system a decade from now than they are today. That’s the under-appreciated beauty of owning $SPGI and $MCO.

What’s the typical life cycle of an $ASML machine once it’s in operation? 𝟗𝟎% 𝐨𝐟 𝐚𝐥𝐥 𝐥𝐢𝐭𝐡𝐨𝐠𝐫𝐚𝐩𝐡𝐲 𝐦𝐚𝐜𝐡𝐢𝐧𝐞𝐬 𝐀𝐒𝐌𝐋 𝐡𝐚𝐬 𝐬𝐨𝐥𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐥𝐚𝐬𝐭 𝟑𝟎 𝐲𝐞𝐚𝐫𝐬 𝐚𝐫𝐞 𝐬𝐭𝐢𝐥𝐥 𝐢𝐧 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐭𝐨𝐝𝐚𝐲. $ASML is what a 𝙡𝙖𝙮𝙚𝙧𝙚𝙙 𝙢𝙤𝙖𝙩 looks like in practice. Many investors understand that $ASML has a monopoly on EUV lithography. Perhaps very view appreciate just how many compounding layers sit beneath that headline. 𝐓𝐡𝐞 𝐈𝐧𝐬𝐭𝐚𝐥𝐥𝐞𝐝 𝐁𝐚𝐬𝐞: These machines endure. Decades on the floor of the world’s most advanced semiconductor fabrication facilities. That’s not just a sale. That’s an ongoing business relationship. And as the installed base continues to grow, the business becomes more valuable — not just in the year of the sale, but compounding over the long term. More machines in the field means more servicing, more upgrades, and deeper entrenchment with every customer. 𝐌𝐨𝐝𝐮𝐥𝐚𝐫 𝐃𝐞𝐬𝐢𝐠𝐧 & 𝐔𝐩𝐠𝐫𝐚𝐝𝐞𝐬: A machine installed 10 years ago can receive an upgrade today that markedly improves its productivity. Customers aren’t just buying a machine — they’re buying a platform that gets better over time. The purchase decision becomes easier knowing that the machine you buy today can be continuously upgraded over many years — rather than becoming obsolete. For $ASML, that means the revenue opportunity doesn’t end at the sale. It extends across the entire life of the machine. 𝐎𝐧𝐠𝐨𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐢𝐧𝐠: The relationship doesn’t end at upgrades. $ASML services these machines throughout their entire lifecycle — maintenance, support, and optimization that keeps the world’s most critical semiconductor infrastructure running. This creates a recurring, high-margin revenue stream that compounds quietly in the background alongside new machine sales. The more machines in the field, the more valuable this stream becomes over time. 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞: The machines are so complex they require three jumbo jets to transport. And by most estimates, the next closest competitor is roughly a decade behind. And $ASML isn’t standing still. $ASML continues to innovate. As of February 2026, $ASML achieved a major breakthrough — developing a 1,000-watt EUV light source, nearly doubling the power of current 600-watt systems. By 2030, that translates to 330 wafers per hour — a 50% increase in productivity. A moat that isn’t just wide today but is actively being widened. 𝐋𝐨𝐰 𝐌𝐚𝐫𝐠𝐢𝐧𝐚𝐥 𝐂𝐨𝐬𝐭 𝐨𝐟 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧: Once the capital cost of a fabrication facility is depreciated, the marginal cost of running these machines is relatively low. $ASML participates in the upside of that efficiency through ongoing upgrades and servicing — without bearing the cost. This is not a company with one moat. It’s a company where each layer reinforces the next. ___ 🎙️ Business Breakdowns: ASML Competing with Moore’s Law (Mar 6, 2026)

@ManuInvests @FrancJrG Do you mind if I ask, what task did you made either Claude?

@FrancJrG Yeah haha that’s essentially what happened. In the end what I accomplished I’ll gladly pay the $20 for so it worked out and I’ll likely keep using. Was genuinely impressed.

I subbed to Claude pro today because I wanted it to do a task for me the other LLMs failed to complete And it did. I was genuinely impressed. but I one shotted my tokens…? That’s crazy. Is everyone who uses Claude on the Max plan?

"A rule of 👍for a lot of things in life is that everything that can break will eventually break. So if many things rely on one thing working and that thing breaks, you are counting the days to catastophe". @morganhousel $GOOGL MoS relies on many "things" reducing that risk.

@TribeRuffner @FinanceJack44 Oo wow would’ve thought $MNST TAM to be larger tbh

@WisedelCapital @FinanceJack44 Absolutely! Cleaner ingredients, different brand image and target audience (healthier, fitness oriented, Alani focused on females). IMO CELH products actually target a much more diverse and LARGER overall audience.

It’s funny how $CELH sold off recently with the news of $COST entering the market with their Kirkland drink. If you understand anything about this business, you would know it is HIGHLY saturated with competition. If you go to the local gas station, there are at least 10 different energy drinks you can choose from. The chances of one more competitor meaningfully disrupting Celsius is slim. If that was all it took then this company would not have made it nearly as far as it is today.

@TribeRuffner @FinanceJack44 Thanks for sharing! With my no knowledge in the industry, is there a differentiator between $CELH vs $MNST?

@WisedelCapital @FinanceJack44 There’s really only three my man. Shelf space is monopolized by the players: Red Bull, MNST, and CELH.

@ariaradnia Hahaha hope it stays at this levels

@WisedelCapital I am tbh, just NOOO cash 😂

This is truly incredible $MA is an AI company 😂

@jimmyinvest Fantastic business Jimmy, definitely worth taking a look at!

Is Kinsale $KNSL cheap enough to deserve a deep dive, in your view? What’s your take on the company? Are you a shareholder?

@durablemoat Like!

@WisedelCapital $MSCI definitely.

Other similar companies in quality to $COST, $ISRG, $ROL, $MCO, $SPGI, $TDG, $CTAS or $FICO? Trying to increase my current watchlist of best in class companies

@Yulai_Jump Don’t know some of this names! Will look more into them! Thanks for sharing!

OPY, MC, MRX, LNC, SNEX, PRU, AXON (getting there). Some names that may not be on every list but are on mine (not just taking into account quality, looking at charts and timing as well). Top of the Quality-to-buy list has to be populated with megacaps/Uber/NFLX and names that are on everyone's list. It's fairly clear that while this may not be the perfect time to buy, it's probably in the better half if not the top 25% of times to add to these names.

@fahi778 Currently own a little $BKNG in my portfolio!

@WisedelCapital Linde, VRSK, Race, LVMH, BKNG, TJX

@RationalDCA Thabks for sharing! Great companies!

@WisedelCapital There are some businesses that I consider to be quality businesses. Let me share some, in no particular order: - $ICE - A bit obvious, but $AAPL - $CNI and $UNP - $WM - Assa Abloy I ofcourse believe therr are more and that this just the tip of the iceberg. Just my opinion.

@jefernandez8 It’s been some time since I last looked into Danaher!

@WisedelCapital DHR

@hoosbobby Great companies! $CPRT getting hammered lately

@WisedelCapital $APH $CDNS $RMD $VEEV $CPRT

@ThinFloat Will look into them! Thanks TF

@WisedelCapital $HEI beats $TDG on every metric

@ThinFloat For sure you’re missing some key variables within what I consider to be “Quality” Of course having a great balance sheet is one of them, but not the only one to look for in a business.

@WisedelCapital I suggest you review their balance sheet. Quality = financials it’s simply that simple. So no not subjective. This is the stock market its numbers driven not a candy store.

@invest091 Thanks Michael!

@WisedelCapital Excellent list there! Could add $BMI