What a week. Let's look at an individual ticker $DLO.

Today, after snapping up another 20 AMZN shares at $202, I decided to look back at a company I forgot was on my radar - $DLO. DLocal is a Uruguayan payment integration company that serves LatAm as its largest market. It IPO'd several years ago to hype as a "unicorn", back when that was still a term. Its share price cratered after about 18 months and has been stagnant for the last 3+ years. The cool thing that DLocal does is work behind the scenes connecting large subscription services like $NFLX to local payment systems, which are numerous and scattered across emerging markets. This is not the type of software AI excels at replacing - this is based on relationship building and be-spoke integrations into a broader platform. Every Nth integration requires lift outside of programming itself. Financially, the company has been one long up-and-to-the-right graph outside of a brief slowdown in 2024 where it was trying to break into African markets, which didn't pan out so well. Two key metrics are PEG at 0.47 and Debt-to-Equity ratio of 0.13 on $66m of debt. It's growing revenue more rapidly than ever before, net margin is improving, it has virtually no debt, and it even pays out a dividend. Market cap < $4b USD. There are risks here. Uruguay, while known as a more tech-forward and mature economy than others in LatAm, is susceptible to inflationary policies and periods that the "western" economies in LatAm are known for (e.g. Argentina, Chile, Uruguay). Even though it is listed on the Nasdaq, one still needs to be cautious with corporate governance. And it's a relatively new company that hasn't quite proven the moat that appears quite impressive thus far. That said, it's a way to own a growing company while exposing yourself in a relatively safe way to a broad set of financial markets, currencies, etc., via the company as proxy. I just started a position today with intention to 2x that position while watching for more negative momentum due to the "all software is worthless" narrative. YMMV.