As I first argued one year ago in "Buffett and 'Asset-Light' Investing" the best business models today belong to technology-enabled, asset-light platform companies with huge network effects. Similarly, I discussed how several fantastic companies built enormous scale advantages through many small bolt-on deals in "An M&A Strategy That Builds Competitive Advantage And Outperforms." I noted in subsequent articles, though, that those technology stocks were quite expensive. There wasn't much that looked like a screaming buy to me. Now everything is discounted. Many stocks that I mentioned in "The Asset-Light Portfolio