Over the past several days I have been reading annual and quarterly reports for a couple companies I am researching. Tonight I am going to start reading some of the competitors annuals, and hopefully when I am done I will have enough information to value the companies and see where that takes us.
With the information in my previous post, and the experience I gained from that, I have gotten pretty good at spotting the bad companies and have been obviously staying away from them. Too bad that is the easy part of investing. Now I need to get a lot better at deciphering which companies are the good ones and which ones have the potential to become great, the ones with a so called Franchise. I also need to get better at finding companies with legitimate, sustainable competitive advantages.
So for Father’s Day I got Bruce Greenwald’s Competition Demystified which will hopefully help me learn a lot in those two departments.
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Those are my plans for the next week or so, now lets see how that plays out.