No, just kidding—I didn’t smell a thing 🤗

and neither did Charlie Munger. He actually believed that no one on the stock market knows what’s going to happen—including him and Warren Buffett…

but maybe Trump? 🤪

We have a stock market that some people treat like a casino. And it’s full of people who think they know what’s going to happen, even though they have absolutely no idea - Charlie Munger

But one thing I do know… I bought Accenture at a dividend yield of over 5.4% .

If $ACN (-1,79 %) the dividends in the future are are not cut in the future, then at least I can pretend I knew it all along 😄

A month ago, I wrote about my start at Accenture and asked if the falling knife would cut my hands...

Short answer:
not not yet.

Of course, that could change at any time, because a falling price is no guarantee that it will rise in the future.

Since I the term “AI” on the stock market to be nothing but hot air and prices tend to get inflated as soon as the word appears in any headlines , I simply do the opposite of what the herd is doing...

Don’t get mad at me, but in in my opinion , there’s no reason to rate a company like Accenture so low...

But yeah, that’s just the stock market

And as André Kostolany used to say:

When the market hits rock bottom, the hard-nosed investors hold the stocks and the nervous ones hold the cash. At the peak of the boom, the hard-nosed investors hold the cash and the nervous ones hold the stocks

With that in mind, I’d like to reiterate that I know nothing except what I’ve read or seen.

ACN is paying dividends today

What do you think about $ACN (-1,79 %) ?

My biggest drivers of price movements in July were $ACN (-1,79 %)
$MSFT (-0,54 %)
$BMY (-1,45 %)

in the past few months I have aggressively invested $MSFT (-0,54 %) and tried to drawdown to my advantage. I closed out several positions and invested in MSFT . It remains to be seen whether I made the right move.

The stock is trading following the earnings at around €16,500 , and I feel very good about it.

What do you think after the results from $MSFT (-0,54 %) ?

Just yesterday I was a customer… today I’m an $MCD (-0,19 %) an investor. Life goes round and round like a merry-go-round… 🙃

Joking aside, since I think that SpaceX
slow-moving companies like $VZ (+0,38 %) will slow down even more in the future than they’re already slowing themselves down, I’ve by half and reallocated it to good dividend compounders such as $MCD (-0,19 %)
$PAYX (-3,25 %)
$MDLZ (+0,34 %)
$ACN (-1,79 %) .

In my be , things will be more exciting here in the future than with $VZ, and Verizon’s 6.6% dividend yield will be surpassed in 10 years anyway by the dividend growth of the new holdings.

It's just a guess, but I'll give it a try… Longrun

Just under 5% dividends with

over 10% annual dividend growth

The stock was sold due to AI fears ...

The bookings from $ACN (-1,79 %) are weaker than in previous years, which is why the stock has fallen even further since the earnings report.

Payout Ratio stands at below
50% and, in terms of dividends, is not something to criticize but rather to admire.

Overall, the financial figures were $ACN (-1,79 %) always been solid… but that’s no guarantee for the future.

The company is in good financial shape and will carry out a share buyback program totaling $7.5 billion by August 2026.

So far, it’s unclear whether AI will be more of a tailwind or headwind in the future.

Since I usually go against the grain and don’t follow the crowd, I’m giving up on this stock and will act based on the company’s future results.

After Accenture $ACN (-1,79 %) fell by 18% (the stock dropped yesterday to its lowest level since 2017), the entire (consulting) industry was dragged down with it. Capgemini
$CAP (+0,72 %) lost 11 percent. Cognizant, Infosys, Wipro, EPAM and Globant were trading lower. Why? Accenture’s business model is based on billable hours. It deploys talented professionals who implement software, restructure processes, and maintain systems at client sites. It is precisely these hours that AI is taking over.

The AI revolution already has its winners and losers. Goldman Sachs has created two thematic portfolios. In the GS US Broad AI includes 94 companies benefiting from AI. The GS AI at Risk contains companies vulnerable to AI, comprising a total of 45 stocks.

Both portfolios start from the same starting point—late November 2022 —after ChatGPT had taken the world by storm—to the present.

The result is clear: The winning portfolio is up 410 percent. That translates to an annualized return of 59 percent per year. The Loser basket stands at minus 26 percent over the same period. That’s a loss of 7 percent per year. The gap between the two stands at around 440 percentage points.

The big winners are the fiber-optic specialist Applied Optoelectronics , up 7,200 percent, SanDisk , up 6,000 percent, and the hard drive manufacturer Western Digital up 2,600 percent, Seagate up 1,900 percent, and Micron up 1,900 percent.

Next up is data center hardware. Celestica rose 3,200 percent, and the cooling and power specialist Vertiv up 2,300 percent, and the equipment manufacturer Argan rose 1,800 percent. Even the laggards in this group of winners are barely in the red. They are the energy providers NextEra, Dominion , and Xcel.

On the other hand, the losers are Globant , down 84 percent, Concentrix down 80 percent, and the payment service provider Bill Holdings down 73 percent, DXC Technology down 71 percent, and the data giant Gartner down 64 percent, the recruitment firm Robert Half and ManpowerGroup each down about 60 percent, and the learning platform Coursera down 62 percent, and Accenture down 57 percent since the end of 2022.

Among the losers, however, there are a few standouts—and they offer valuable lessons. One language AI specialist, SoundHound AI
$SOUN gained 456 percent. Duolingo
$DUOL rose 80 percent, and Verisign
$VRSN (-1,38 %) rose by 32 percent. These companies didn’t just put up with AI—they turned it into their own driving force. Duolingo uses AI to make language learning cheaper and more effective. SoundHound has become AI itself. The lesson is: You have to reinvent yourself—and do so faster than AI can eat away at your old revenue.

Source: "Welt" (excerpt), June 19, 2026

$ACN (-1,79 %)

1. Market Leader with a Massive Moat

Accenture isn’t just any consulting firm.

They’re often deeply embedded in:

IT systems,

transformations,

cloud projects,

ERP,

and operations.

Large corporations don’t switch such partners easily.

2. AI Could Help Rather Than Harm

The market is afraid:

“AI is replacing consulting.”

The counterargument:

Many companies don’t even know:

what AI to use,

how to restructure processes,

how to integrate data.

That’s exactly where Accenture makes its money.

3. Less risk than many software companies

Compared to:

Rocket Lab,

Quantum,

Nebius,

MSTR,

Accenture has:

profits,

cash flows,

dividends,

a stable balance sheet.

4. Historically strong compounder

Accenture hasn’t been a hype stock for many years.

But:

High revenue,

high profits,

high dividends,

share buybacks.

Many fortunes are built precisely with companies like this.

5. A Weak Phase Could Be an Opportunity

If the market fear is:

“IT spending is weak.”

and this normalizes in 2–3 years,

then market leaders often benefit disproportionately.

6. AI Valuation Without an AI Multiple

Many AI winners are trading at extremely high valuations.

The bull case is:

Accenture benefits from AI without being valued at 50–100x revenue.

7. Virtually No Survival Risk

A very important point, in my view

With Accenture, the question is rarely:

“Will the company survive?”

But rather:

“Will it grow 5% or 10%?”

That’s a different risk category.