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Ep 365. Finding Moats: Market Power, Customer Behavior, Substitution, Distribution, and Margin Protection

Focused Compounding

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Is Star Worst a Good Idea?

A lot of it is because the customers put in the time to invest themselves a lot of time into something. It can be good if you can find things in which thereis a certain level of investment needed that is nota money. The problem that's something like starwars has versus a drug company, is a drug company can gouge you on that as much as they want to. So generally, there's a huge leakage in terms of very big benefit to the customer that the company can't monotize.

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