Source: sha.org.
Overview
Our stock-picking logic is simple: to find businesses that 1) have already won in their respective domains and 2) will keep winning for the long run. The first point is easy to implement by examining the company's past financial performance. The second one appears hard to predict, especially in light of today's dog-eat-dog capitalist world, where superior profit attracts competition almost in no time. However, there are some quick-and-dirty ways to help uncover businesses' sustainable competitive advantages.
We previously covered the century-old consumer brands, and today would like to talk