Investing by the Books cover image

#8 Lawrence Cunningham: Quality Investing

Investing by the Books

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Energy Business

It's not economies of scale period or geographic reach period or brand power periods, all of them in combination. It's its position a that enables a safer prediction of durable competitive advantage. Whereas if it's shrinkingorif it's gotten pucked, you know, it's gott hit in a couple of spots. Eo, even if it's still strong, that's not a good direction. You so a, and i guess thats sort of in, ihear, we, i guess we've heard muffit referring to this so many timesthat he all he wants his sort of managers to be doing is to be widening them ll really.

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