Walmart Inc.

“Walmart is a category-defining compounder with an irreplicable physical network, a widening data-and-advertising flywheel, and exceptional financial health — but at 42x trailing earnings the stock prices in near-perfect execution, leaving a 10-year expected return of roughly 5–10% CAGR that does not adequately compensate a long-term investor; the right response is to admire the business, wait for a valuation reset toward 28–30x forward earnings (~$90–95), and buy aggressively at that level.”