What Attributes Make a Business a Pitch in Your Sweet Spot?

Ted Williams' newest sweet spot was a pitch right down the middle. When both of you look at potential investments, what attributes make a company a pitch in your sweet spot? It would tend to be a business that for one reason or another we can look out five or ten or twenty years and decide that the competitive advantage that it had at the present would last over that period. And then it would be a matter of price but the main, you know, when we buy a business essentially we're laying out a lot of money now based on what we think that business will deliver over time.