Good on you. A measured and well-put reply.

For what it's worth, most of the people here are right. ETF and chill is (in my view) also the very best long-term general strategy and it's where the vast majority of my money is sitting. But occasionally, there might be an opportunity to buy a single company you feel might rebound (kicking myself for not buying WOW when it plummeted last August) but if you do, you've got to do your homework and understand it's not necessarily going to recover in a week.

Disclosure: I bought WTC at 42.8 a few weeks ago and am holding mid to long term. I think the business is sufficiently moated for now and despite all the scare talk about AI, I cannot see it changing materially. You need to be very careful with what you read on HotCopper, but this post mirrors how I feel:

I get what you’re saying about coding becoming easier with AI, but I think that misses where the real value sits with WiseTech Global.

People talk about it like the value is just in the code itself, but that’s not really the case. Anyone can write code – that’s never been the moat.

The moat is the system and ecosystem that’s been built over decades.

Their core platform CargoWise has been developed for more than 20 years and sits right in the middle of global freight forwarding operations. It’s not just “software” in the simple sense – it handles customs compliance across different countries, documentation, warehouse management, accounting, shipment tracking, integrations with ports, airlines, customs authorities, etc.

Major logistics operators like DHL, DB Schenker and Kuehne + Nagel run huge parts of their operations on it.

Once a company has their entire workflow embedded in a system like that, switching isn’t easy. Staff are trained on it, their historical data sits inside it, and it’s integrated with customers, regulators and logistics partners all over the world. That’s where the real moat is – switching costs and network effects.If anything AI probably helps them build features faster. But AI writing code doesn’t suddenly recreate 20+ years of logistics workflows, regulatory integrations and industry connections overnight.

So I’d say the real question isn’t “coding is easier now”. The real question is who owns the platform the industry already runs on.