3min chapter

Invest Like the Best with Patrick O'Shaughnessy cover image

Pat Dorsey - Buying Companies With Economic Moats - [Invest Like the Best, EP.51]

Invest Like the Best with Patrick O'Shaughnessy

CHAPTER

The Importance of Setting a High and Reasonable Hedge

The best performing stocks tend to have a little bit more lumpy type results. Take buybacks as the example, companies that do 1% every year don't really outperform. Those that randomly gobble up 10% of their shares in a very short window tend to outperform by quite a wide margin. We see this especially with the European companies we look at, given how low interest rates are in Europe.

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