Debt is often necessary. But too much debt will sink you, like it will sink your favorite business. And if it doesn't sink it, it's at least gonna be a stress factor which you don't need.
Because there's enough sources of stress in life, such as death that's slowly creeping towards us and that's gonna reach us sooner or later.
I already have problems to sleep without a significant stress in life (outside of life itself), I don't need some worrying shit about one of my stocks. I want to think about something else than my stocks when I sleep. I want to think about death or diseases that's gonna affect me or my family.
Free-debt stocks are often expensive. Again, there's a reason why a stock is expensive. It's either because the entire market is crazy about a stock, because the stock is very predictable, because it's full of money or because it has no debt (there may be a couple other reasons, but here's some of the most frequent).
A company without debt has a lot of flexibility. It can do whatever it wants with it's cash flow. It doesn't have to worry about a recession, a rise of interests, the possibility of an acquisition that would be impossible if the company carried too much debt. And on it goes.
So, here's a list of 12 of these debt-free or almost debt-free stocks (some have big debts in absolute numbers, but VS the market cap of the company or the cash they hold, it's unsignificant):
Richelieu Hardware (RCH.TO)
Enghouse Systems (ENGH.TO)
Ulta Beauty (ULTA)
Edwards Lifesciences (EW)
Five Below (FIVE)
Robert Half (RHI)
Simulation Plus (SLP)
Texas Roadhouse (TXRH)
Ross Stores (ROST)
All great fucking stocks. So, debt free, such as low beta seems to be a criteria on which we could almost base our decisions without thinking about the rest.
That's what we're all looking for ultimately: A one criteria-decision tool. We're all so fucking lazy.