MI025: Deep Value Investing with Tobias Carlisle (Investing Podcast)
The Intrinsic Value Podcast - The Investor’s Podcast Network
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The Business Cycle Interrupts Your Strategy
The business cycle says that companies with very high returns on invested capital tend to be closer to the top of the business cycle. That's the theory. The problem is when you go to put it into practice, you find that the business cycle interrupts what you're trying to do. So there's been a lot of research into identifying competitive advantages. And nobody's been able to do it really successfully and consistently.
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