
Ep 365. Finding Moats: Market Power, Customer Behavior, Substitution, Distribution, and Margin Protection
Focused Compounding
00:00
Having a Good Management Team Is a Necessity
Walmarn waders onte industry, greenwall, and his book competition to mystifit he actually goes over that. And walmart has had amazing returns over time, but you actually look back to their earlier days when there were purely local advantages before going national. Most companies, obviously, are going to be bis to have their highest returns early on,. That is, when their founder is running them.
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