I was close to adding to a few other positions this morning, and today’s broad market decline quickly opened the door for me to do just that. I boosted my Alphabet stake by 16% and my Trade Desk stake by 9% amid more multiple compression. My thoughts on both companies have not changed in the least since the earnings reports. And? The stocks continue to get cheaper. I’m happy to pay 37x forward earnings for a business like TTD and 20x for Alphabet. Proceeds from recent CrowdStrike and Celsius trims were used to fund these purchases. Here’s how things look:

I expect the 17.5% compounded annual lead vs. the S&P 500 to fall closer to 17% after data from today’s session is added.

My emergency fund cushion represents about 6% of total holdings right now. With benchmarks still near all-time highs and multiples still generally higher than a few months ago, I’m holding off on deploying that cash more aggressively for now. As (or if) the current pullback intensifies, I’ll methodically add.