Stig Brodersen

Viewed as a "superpowered ETF"; comprises roughly 7% of his portfolio.

Adobe is the industry standard for creative software (Photoshop) with 96% subscription revenue and a diversified base of 41M paying users. Switching costs are extremely high due to professional entrenchment, inertia, employee incentives to stick with known tools, and the tiny share of software cost relative to overall expenses for enterprises. AI disrupts the low end (e.g., Canva, LLMs for simple generation), but high-end professionals need Adobe's precision editing and creative control. Adobe already integrates AI as a productivity enhancer. Valuation at 7-year low, heavy buybacks, likely worth $350-400 vs $270, offering good risk/reward.

Most individual investors should dollar-cost average into a low-cost, broad-market index fund such as the S&P 500 or MSCI World Index because it is simple, low-cost, and historically outperforms most active managers over the long term. Complexity often leads to higher fees, behavioral mistakes, and worse returns.

Low cost (6 bps), owns 10,000 companies, eliminates stock-picking risk, serves as a global benchmark.