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I would like to learn to be peaceful when my POrtfolio is down 50 percent

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$POOL seems a simple, wonderful business, with excellent traction and margins.

A couple of questions (sorry couldn't dig deeper for want of time — too many stones to turn over)

1. What are the specific levers for topline growth? Isn't the pool supplies market kind of saturated already I might be totally wrong on this one.

2. POOL doesn't seem to have a presence in Asia. China and India in particular are two sizable markets with a favourable demographic.

3. POOL has guided deployment of far more capital in share buybacks and dividend payments, than in capital expenditures and M&A. Does this indicate a restricted growth runway?

4. Under longer term outlook, it says organic topline growth of 6-9%. Again this indicates modest organic revenue growth. If M&A doesn't pan out as expected, overall revenue growth might come in stunted.

Always happy to hear contradictory views!

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