Tag: Case study
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What I won’t own
The Quality Series · part 9 of 13 The only risk that really matters to me is that the business erodes its “quality” and stops compounding. Every facet I look for in a world-class business, everything in the first eight parts of this series, is a defence against that one risk. While I am by…
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A moat is the power to raise prices
The Quality Series · part 7 of 13 Everyone talks about moats. In practice I use a simple test: can the business increase prices without losing the customer — and hold or grow its market share while it does? That is what a moat means to me. Brand, network, switching costs, patents — they matter…