Bull Sessions (2/17/2026)

 These weekly discussions seek to explore relevant topics and/or actionable opportunities for deeper dives. The sessions are generally held on Tuesdays at 2 PM ET. The editorial calendar will include stock analysis methods, specific company studies, portfolio design and management, “missions” within Manifest Investing … 

Mark Robertson, Ken Kavula, Kim Butcher, Matt, and Kurt Kowitz convened for the February 17, 2026 Bull Session to discuss market conditions and investment opportunities. The session opened with casual observations about unusually warm weather across different regions and company updates, including remarks on Portillo's new CEO and the current market valuation according to both Value Line and Morningstar metrics. The speakers noted that while there are minor conflicts in valuation signals, overall economic fundamentals appear stronger than expected, with improving cash flows and increasing cash reserves across S&P 500 companies.

A significant portion of the discussion focused on the recent pullback in software stocks, with Ken Kavula noting that investment clubs have been analyzing this sector and concluding that the downturn is an overreaction to AI speculation. Speakers drew parallels to past market panics, citing Hugh McManus's historical perspective on Bank of America and current conditions with major holdings like Microsoft. They emphasized that high-quality software companies with proven track records of adapting to technological change remain sound investments. The team also examined the Buttonwood Bulls demonstration portfolio, which despite slight price declines, shows improving fundamentals and maintains healthy projected annual returns.

The presentation included analysis of the 10 most widely held stocks in the Manifest universe and comparison to the Wilshire 5000 index, illustrating that modest outperformance of 2-4 percentage points above market averages can significantly enhance long-term wealth accumulation. The speakers encouraged investors not to panic during market turbulence and pointed to upcoming coverage of Walter Schloss's investment philosophy as a case study in achieving superior returns through disciplined fundamental analysis.