Walsh delivered 104 in Carlton's thrilling 4-point MCG win over Geelong — 35 points above his 69 BE and a classic premium mid performance in a tight contest. The 104 continues his elite run: every score since R3 has been 94 or higher (102, 101, 118, 121, 71, 94, 104), with the sole sub-100 being a 71 in the 39-point team capitulation to St Kilda. At $472.8k with a 90.5 average, he is priced below his output — the price is still catching up from earlier rounds. Cash gen is negative at -$2,633/week but that reflects the natural price discovery cycle for a premium, not a structural concern. All previous verdicts are Hold with one Avoid (R2 absence). The thesis is unchanged: Walsh is a locked premium MID who does exactly what you pay for. Hold.