Michael Mauboussin - Man + Machine, Moats, and Power of the Outside View - [Invest Like the Best, EP.37]
Invest Like the Best with Patrick O'Shaughnessy
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How to Measure the Mote
To get to strategy is really got about to be about trade offs. And then the final step is, you know, the specific source of comadvantage. You could say, roughly speaking, there's differentiation which tends to manifest in high margins and relatively low capital velocity for your high returns on capital. So i think this stuff is really, i agree with, i thin its stuff is incredibly interesting.
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