If you can find a company with solid returns on capital and one of characteristics, you’ve likely found a company with a moat.
Weak competitive positions are eventually rooted out due to competition and new environments, and that a lack of adaptiveness to changing reality is a losing strategy when the surrounding environment shifts enough. Please follow and like us:0
“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 […]