Transcription of 22ND ANNUAL WEALTH CREATION STUDY (2012 …
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22ND ANNUAL WEALTH CREATION STUDY (2012 …
2 thematic STUDY | December 201722ND ANNUAL WEALTH CREATION STUDY (20 12-20 17)HIGHLIGHTS Longevated profit growth companies are few. Understanding of Competitive Advantage Period (CAP) and Growth Advantage Period (GAP) improves the chances of finding them. Moat without growth will underperform; growth without moat will end soon. Longevity and speed of growth are inversely correlated. Three characteristics of CAP-cum-GAP companies are Clear strategy, High growth mindset, and High-growth industry situations. "The strategy is to find a good business and one that I can understand why it's good witha durable competitive advantage, run by able and honest people, and available at a pricethat makes sense. Because we are not going to sell the business, we don't need somethingwith earnings that go up the next month or the next quarter; we need something that willearn more money 10 and 20 and 30 years from now.
2 Thematic Study | December 2017 22ND ANNUAL WEALTH CREATION STUDY (2012-2017) HIGHLIGHTS Longevated profit growth companies are few.Understanding of Competitive Advantage Period (CAP) and Growth Advantage Period (GAP) improves the …
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