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Beatriz's avatar

It is my 2nd largest position at an average price of 370$. Management has always been cautious and they said 30-40% growth rates won't last forever. However, I think they can achieve at least 15% EPS growth in the next few years and beat the market. Multiple contraction is indeed a risk, and that is why I don't add more to my already large position at this price. For those you don't have a position, I think this is a good starting point. But if Kinsale falls to the range of 22-23 PE, I would add even more, because it is a high quality business with great, down to earth management. I think it deserves a premium.

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