🇺🇸 Initial purchase #3 in October '22 🇺🇸

Have a nice Sunday 🙋‍♂️. One last new acquisition in the depot in October I still have to submit, but is rather small weighted.

➡️ 13 shares of RCI Hospitality ($RICK (-1,09 %)) were bought at 83.63 USD 83.63 per share.

➡️ The initial purchase of RICK should serve as a kind of living watchlist, because actually the share is valued too expensive for me, despite all the upside potential. Therefore, the weighting is only 0.4%.

➡️ RCI Hospitality is a sin stock and has a super business model. It buys and operates strip clubs :D.

➡️ Strip clubs have a massive moat, as licenses (liquor licenses, etc.) are required to operate them, which are hardly ever issued these days.

➡️ There are over 2000 strip clubs in the US and sellers are increasing. But buyers are quite few, which often leads to acquisitions at great discounts. RICK is one of those buyers!