A company with a true moat should be earning a higher return on capital thanks to that moat... and therefore it will always be under attack by competitors. That's why I find it so important to understand potentially disruptive technologies, even if they're not necessarily in my portfolio.
Thank you for the shout out, Giuliano!
A company with a true moat should be earning a higher return on capital thanks to that moat... and therefore it will always be under attack by competitors. That's why I find it so important to understand potentially disruptive technologies, even if they're not necessarily in my portfolio.
No problem Geoff! That's a very interesting realization, I still have to meditate on the matter. Thank you for sharing.