Seek companies with sustainable competitive advantages from "summary" of The Little Book of Value Investing by Christopher H. Browne
When looking for potential investments, it is crucial to focus on companies that possess sustainable competitive advantages. These are companies that have something unique about them that sets them apart from their competitors. This could be a strong brand, a loyal customer base, innovative technology, or exclusive rights to a certain product or service. Whatever it may be, this competitive advantage should be something that is difficult for other companies to replicate or surpass. By investing in companies with sustainable competitive advantages, you are essentially investing in businesses that have a built-in defense mechanism against competition. This means that even if other companies try to enter the market or imitate what they are doing, the company you have invested in will still have the upper hand. This can lead to higher profitability, market share, and ultimately, higher returns for you...
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