Ep 196. Porter’s 5 Forces and Measuring a Stock’s Moat

Discover the crucial role of economic moats in investing, showcasing how strong competitive advantages lead to sustained returns. Dive into Porter's Five Forces to understand competitive dynamics and the impact of customer power. Explore intangible assets in sectors like pharmaceuticals and media, particularly Disney's library. Uncover how industry performance influences stock returns, with strategies inspired by Buffett. Plus, navigate the challenges of investing in net nets with insights on patience, diversification, and psychological factors.