Michael Mauboussin – Active Asset Management - [Invest Like the Best, EP.02]
Invest Like the Best with Patrick O'Shaughnessy
Focus on Balance in Success and Financial Performance
Success is a combination of skill and luck; maintaining a balance between customer centricity and scalability is crucial for success. Amazon's early focus on cash conversion cycle played a key role in their success. Their strong financial performance is indicated by their high gross profitability and quality, positioning them in the top quartile according to Robert Novy-Marx's framework.
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