We continue to add to our position in VICI Properties Inc. (VICI).
Because we currently lack a proper war chest, we could only buy a relatively small amount this time.
As lifelong dividend investors, we have almost always been fully invested. Our philosophy has been simple: money should work all the time. Cash sitting idle has felt like a waste. But we are now realizing that this approach needs to change.
Going forward, we want to build and maintain a cash reserve that roughly matches the size of our growth stock allocation. This would give us dry powder to act when real opportunities appear – instead of being forced to buy smaller positions or, worse, sit on the sidelines.
From experience, I know this mental shift will be surprisingly difficult for us. We’ve been wired for decades to stay fully invested. Sitting on cash feels unnatural, almost irresponsible.
Still, discipline demands it. We’ll see how it goes.
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