Words to Remember
If Investing Feels Exciting, You're Doing It Wrong 🧠
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”
Why we ran it
Software stocks were down 26% for the year as agentic AI broke the per-seat business model, and the Super Bowl betting lines were flying. Samuelson's line drew the boundary between the two. The portfolio is the boring part on purpose.
From the February 6, 2026 issue: Welcome To The SaaSpocalypse →