Mastercard's high margins justify its valuation and consistent regional growth supports holding the position.

Now, moving on, we get to Mastercard. $190,000 position now $42,000 in the green. I would group Visa in with this one. I think that you can flip a coin and invest in which one you want.

They're both such great companies. I decided to just pick one of them, but I could have I could have invested in both of them equally.

When I look at Mastercard, it trades at a reasonable valuation given the economics of the company. When you have above a 50% profit margin, you deserve to trade in the high 25s.

Better yet, everything about these companies continues to grow. We can look at the revenue growth by region. Mastercard continues to grow everywhere. So, a lot of people are concerned that these local payment providers or the government will compete with Mastercard, but they're growing revenue in the United States even though this is their most most mature market.

We also have Europe where they're growing twice as fast, 14%. We also have the Asia-Pacific area. It's growing 7% per year. We have Latin America, the Caribbean growing 20% there.

We have Canada growing 7 12%. So every single territory they're growing above the rate of inflation. I believe in a world of agentic commerce, Mastercard and Visa will become more valuable, not less. So I'm not touching that holding.