Not buying Hermes now; valuation of 35x earnings makes it less attractive than other opportunities, though holding existing shares is acceptable.

What you would have >> I think LVMH. Yeah. CD and >> it's tough. It's tough though because like Hermes is the is a better quality business. >> But then it could cut both ways. Well, but but then the valuation you're paying, you know, 20 times earnings versus first versus 35 times earnings almost kind of nullifies the difference between them.

I I I don't know. I would probably put them both like firmly in C or or maybe if you want Hermes a little higher, I think that's fine, too.

>> Very fitting. Well, and then we had another comment. Uh, Hermes should be a at least. Yeah, I think it's tough. Yeah, if you're talking quality, um, you know, pro sure Sure.

A, but for us, this is this is kind of like very subjective, right? Because it's the company's ranking most likely that we would add to the portfolio.

>> Yeah. Um, it's and like I'm not sure I'm very I'm all that close to wanting to add or mesh to the portfolio. Even though I think it's a great business, it's a better price than it's been.

I'm not dying to own uh a Birkin bag business at 35 times earnings, which like comes across as as a slight to Hermes, but um if I already owned it and I held it, like I would be probably very happy to continue owning it.

Do I want to relative to our other opportunities? Would I be as excited about buying it? Probably not. And we had somebody say that um they have 10% of their portfolio in Hermes.

And I I I don't I don't I'm not I wouldn't criticize that. I don't have any issue with that. Uh it's probably it's probably a fine bet.

>> But we we own a lot of great companies, too. So, I I come in with these biases of like, you know, if I have, you know, $10,000 to invest, uh, I could either put it in in in Reddit or Uber or Alphabet or I could put in Hermes or, you know, a million other things.

And, you know, for me, if I'm putting talking about Hermes, like I can't I can't rank it higher than than B TOC because I'm just I'm not that close to to wanting to add it to the portfolio.