Graham Defensive Consumer Value 10

Grizzly Graham’s thesis

Mr. Market is paying record prices for AI infrastructure while offering boring, cash-rich consumer franchises at single-digit-to-low-teens multiples. With rate-hike fears easing after the weak jobs report, defensive brands with decades of dividends and wide margins of safety to conservative intrinsic value look cheap. Mattel's takeover bid shows consolidation appetite for undervalued consumer IP; this basket buys the rest of the shelf before Mr. Market re-prices it.