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The Importance of Scale in Investing
I look for large markets that have a lot of growth potential and then I'm trying to find companies that can be market leaders. At Capital we have a real advantage because we can meet with all the players in an industry and calibrate the management teams. You quickly get an idea of the companies they're well managed and those that aren't. It makes more sense to be willing to pay a higher valuation on current numbers because the long-term opportunity is so great.