Core Viewpoint - Waste Management's stock declined by 4% amidst a broader market rally, indicating a shift in investor sentiment towards higher-risk stocks due to optimism surrounding a potential U.S.-China trade deal [1][4]. Company Performance - Despite the stock drop, Waste Management's operations remain unchanged, suggesting that the decline is not reflective of the company's fundamentals [2]. - Over the past decade, Waste Management has outperformed the S&P 500, doubling its total returns and more than quadrupling in value [6]. Market Sentiment - The current market environment is characterized by a "risk-on" attitude, favoring high-beta stocks over low-volatility investments like Waste Management [4][6]. - The market's bullish sentiment may overlook Waste Management's potential as a growth stock, given its consistent performance and strategic acquisitions [6]. Strategic Acquisitions - Waste Management has made approximately 100 acquisitions since 2018, contributing to steady sales growth and enhancing its growth narrative [7]. - The company is expanding its presence in the renewable natural gas sector and diversifying into healthcare waste disposal through the acquisition of Stericycle [7].