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One of the most interesting dynamics in the market right now is the fact that inflation is bubbling up. We're seeing it through wage inflation. We're seeing it through transportation costs going up. And we're seeing it through tariffs. Look at the appliance market: washing machines are a lot more expensive since the steel tariffs than prior to that.
So, the question that every investor should be asking is, "Does my company have pricing power?" If they do, we think they can maintain - if not grow - margins.