Lululemon Athletica · apparel
wonderful · 95
narrow moat
Value$146.73
Price$104.06
MoS
+41.0%
Damaged premium brand priced for decline; even modest 4% growth beats the market's -8% assumption.
Wonderful businesses at a margin of safety
2026-10-23
12fat pitches
201on watchlist
9/22cleared gate today
102%universe scanned
5.0%risk-free
Fat pitch of the day
opus
CTSH Cognizant
Cheap, cash-rich IT outsourcer; price assumes decline, but AI makes the decade too uncertain to own forever.
BUY
wonderful · 81
narrow moat
software
Owner-earnings value$92.59
Price$73.72
Margin of safety
+25.6%
Cognizant sells IT services: application development and maintenance, outsourcing, cloud migration, digital engineering and consulting. Its customers are large enterprises, mostly in financial services, healthcare, and retail. It earns money mainly by billing for engineers, most of them in India, under multi-year time-and-materials and fixed-price contracts. The profit comes from the gap between offshore labor costs and onshore billing rates.
Full moat, owner-earnings & quality breakdown →Today's wonderful businesses · 5 deep-dived of 22 scanned
Copart · industrial
wonderful · 86
wide moat
Value$29.95
Price$29.09
MoS
+3.0%
A duopoly salvage marketplace on irreplaceable land, priced at roughly 7% implied growth; modestly beatable, not cheap.
General Dynamics · aerospace
good · 73
wide moat
Value$329.51
Price$350.79
MoS
-6.1%
Irreplaceable submarine franchise plus Gulfstream; wonderful and durable, but today's price already discounts most of the growth.
Darden Restaurants · restaurant
wonderful · 80
narrow moat
Value$202.20
Price$217.56
MoS
-7.1%
Best operator in a mediocre industry; fairly priced at ~8% implied growth, which we think it falls short of.
Watchlist · 201 wonderful businesses · 12 at a margin of safety
The quality gate has scanned 514 of 503 names; these are the ones worth owning at the right price. See the full watchlist →
| Ticker | Sector | Quality | Moat | Price | Value | Margin of safety | Rating |
|---|---|---|---|---|---|---|---|
| CF | materials | wonderful · 85 | narrow moat | $118.56 | $168.81 | +42.4% | STRONG BUY |
| LULU | apparel | wonderful · 95 | narrow moat | $104.06 | $146.73 | +41.0% | HOLD |
| PYPL | payments | wonderful · 85 | narrow moat | $57.53 | $79.20 | +37.7% | BUY |
| DECK | apparel | wonderful · 97 | narrow moat | $85.28 | $114.87 | +34.7% | HOLD |
| SOLV | healthcare | good · 73 | narrow moat | $87.45 | $114.71 | +31.2% | BUY |
| GDDY | technology | wonderful · 82 | narrow moat | $114.73 | $146.96 | +28.1% | BUY |
| NVR | retail | wonderful · 88 | narrow moat | $6,110.63 | $7,764.83 | +27.1% | HOLD |
| CTSH | software | wonderful · 81 | narrow moat | $73.72 | $92.59 | +25.6% | BUY |
| ZTS | pharma | wonderful · 90 | wide moat | $82.00 | $101.30 | +23.5% | HOLD |
| APA | energy | good · 76 | no moat | $49.44 | $60.89 | +23.2% | HOLD |
| UBER | industrial | good · 69 | narrow moat | $69.07 | $84.06 | +21.7% | HOLD |
| ACGL | insurance | wonderful · 81 | narrow moat | $102.69 | $123.58 | +20.3% | BUY |
| VLO | energy | good · 73 | narrow moat | $426.28 | $506.97 | +18.9% | HOLD |
| SNA | industrial | wonderful · 90 | wide moat | $356.46 | $418.41 | +17.4% | HOLD |
| UHS | healthcare | good · 69 | narrow moat | $188.13 | $217.10 | +15.4% | HOLD |
| AVY | materials | good · 73 | narrow moat | $184.66 | $213.01 | +15.4% | HOLD |
| INCY | pharma | good · 77 | narrow moat | $116.93 | $131.87 | +12.8% | HOLD |
| BR | industrial | good · 78 | wide moat | $186.12 | $207.93 | +11.7% | HOLD |
| INTU | software | wonderful · 84 | wide moat | $354.90 | $388.00 | +9.3% | HOLD |
| PNR | industrial | good · 75 | no moat | $55.44 | $59.06 | +6.5% | HOLD |