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

Focused Compounding

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Is There Anything You Can Do to Put You Out of Business?

There's very little you can do to hurt your competition, right? If they have a sufficiently good product, they will make money on it. In terms of making money off a investment long term in a company, the biggest issue from ival ryperspective is how much can they hurt someone else? Not how much success can they have, not whether they'll get more market share or any of that. You know, if i'm free to the limor im haines, i never have to pass the other company. I just have to be in a situation where i'm not going to be harmed in such a serious way that it imperils the investment.

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