If you can find a company with solid returns on capital and one of characteristics, you’ve likely found a company with a moat.
“I started out looking for cheap securities… Over time, I really fell in love with strong businesses. I morphed into finding strong businesses at bargain prices. I still have a streak in me that favours finding really cheap securities – I just can’t help it. But over time, I’ve become more attracted to looking for great businesses that are inherently […]
“When we talk about business quality, we’re looking through our fundamental research to assess the company’s ability to protect and grow intrinsic value. If the dollar of assets you buy is increasing in value at an above-average rate, that’s an opportunity to generate alpha.” “Characteristics of a good business include businesses that provide a demonstrable convenience to customers or […]
Isaacson was drawn to Da Vinci as the ultimate example of the main thematic of his previous biographies, many of which, coincidentally are heroes of Charlie Munger – Einstein, Lincoln and Newton. Isaacson describes that thematic as “How the ability to make connections across disciplines – arts and sciences, humanities and technology – is a key to innovation, imagination, and genius.” Leonardo […]