The analyst discusses his decision to add shares of The Trade Desk (TTD) to his portfolio. He mentions negative headlines about the stock, including a deal between Netflix and Amazon, and a downgrade from an investment bank. He states that the stock price had fallen to the low $40s, which he viewed as a great opportunity. He updated his discounted cash flow valuation model for Trade Desk, downgrading free cash flow expectations by $200 million per year from 2028 forward, but determined the stock still undervalued. The analyst's intrinsic value per share comes in at $68.37 while the current market price is $46.25. He bought his shares at $44 per share. He likes the advertising industry, expects ad spending to increase into eternity, and expects digital advertising to take market share from legacy advertising. The analyst notes that after 2022 the company focused on profitability and its margins have improved. Also, he claims that with return on invested capital, ROIC is more than two to one ratio . The lowest forward P/E 24.16 since January 2023. He estimates an ad industry of one trillion dollars.