Quiet Quality: Wide-Moat Compounders at Fair Prices

While the market chases and then abandons AI beta, wonderful businesses with durable moats — membership warehouses, life-science tollbooths, franchise royalty streams — keep compounding owner earnings quietly. I'd rather buy these predictable cash machines at fair prices during a sentiment reset than guess at chip cycles outside my circle of competence. Each name earns high returns on invested capital with pricing power that survives any macro tape. Catalysts: - 2026-10-03 Costco (COST) Q4 2026 earnings: Sales rise 11.2% to $93.9B, comparable sales up 9.4% (https://www.stocktitan.net/news/COST/costco-wholesale-corporation-reports-fourth-quarter-and-fiscal-year-hsqvdvy2xqod.html) Launch basket (equal weight): COST, TMO, ASML, MCD, NKE, ECL, CTAS, ORLY, GPC, NVR Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.