Buy-Hold-Sell List Update July 2025
Fishing where the fish are
👋 Howdy Partner,
Last week, I went fishing for walleye on Lake Erie.
It’s a giant body of water - in fact, it’s the 11th largest lake in the world.
Erie is bigger than El Salvador, Israel, or Slovenia.
From the deck of a boat, looking out over that endless stretch of gray-blue horizon, it feels like you’re on the ocean. Wide open. Impressive.
Even though it’s massive, seasoned anglers already know…
Lake Erie is full of fish. This year, the estimate is over 70 million walleye.
Of course, you can fish from the shore. A cheap rod, a bobber, a worm. You might get lucky.
But the serious guys - the ones who come home with full coolers and bragging rights - they fish different. They have sonar. Planer boards. Down riggers.
And most important… they have a boat.
That’s how you cover more water. That’s how you go where the fish are. Not a guarantee you’ll catch something - but your odds go way up.
When we were on the lake, we had twelve lines in the water most of the time.
That’s how investing works, too.
Buy-Hold-Sell List
Our Buy-Hold-Sell List?
It’s our fishing boat.
You could cast blindly into the market from the shoreline. You might even catch something.
But when you have a tool that covers wide territory - and when you know how to read the sonar - you find the real action. The opportunities others miss. The fat, slow-swimming dividend monsters no one else is reaching.
“I have a friend who’s a fisherman. He says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”
-Charlie Munger
But that’s not where the comparison ends.
There’s a joke among boat owners…
The two happiest days of your life? The day you buy your boat - and the day you sell it.
Boats are a headache. They’re expensive. They break. You spend more time maintaining than fishing.
Know what’s better than owning a boat? Having a friend who owns one.
That’s what this newsletter is.
I’m your friend with the boat. You don’t need to manage it, maintain it, or even know how to read the sonar.
Just hop in.
Let’s go fishing. Let’s update the Buy-Hold-Sell List.
Buy-Hold-Sell List
The Buy-Hold-Sell List filters our very large Investable Universe.
You can see all of the details on how it works here:
We look for cheap Dividend Stocks based on three valuation methods:
The PEG Ratio
Current Yield vs Historical
Reverse Dividend Discount Model
Based on this, we give each company a Buy, Hold, or Sell recommendation.
Update June 2025
Some Interesting Stats:
148 companies total receive a ‘buy’ rating
48 moved from 'hold’ to ‘buy’
39 have moved up from ‘sell’ to ‘hold’
Only 1 made the jump from ‘sell’ directly to ‘buy’
Recommendation Changes
16 companies went from Buy to Hold due to increasing stock prices.
Here’s a sample of a few:
Nike ($NKE): Designs, develops, and markets athletic footwear, apparel, and equipment
Wolters Kluwer ($WKL): Provides information, software solutions, and services for professionals in legal, tax, finance, and healthcare sectors
Danaher Corporation ($DHR): Engages in the development and manufacture of innovative products and services across life sciences, diagnostics, and environmental sectors
TJX Companies ($TJX): Operates a leading off-price retailer of apparel and home goods, offering a diverse selection of brand-name merchandise at discounted prices
You can download the entire Buy-Hold-Sell list here: