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Maximizing Moats: Reinvestment Runways & Capital Allocation” - Pat Dorsey
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• Economic Moats
• Reinvestment
• Capital Allocation
• Reinvestment
• Capital Allocation
What Creates A Moat
• Intangible Assets
• Switching Costs
• Network Effects (Platform)
• Cost Advantages (Cheaper: Jio ?)
• Intangible Assets
• Switching Costs
• Network Effects (Platform)
• Cost Advantages (Cheaper: Jio ?)
Why Moats Matter
Why Reinvestment Matters
The Value Of Reinvestment
ROIC
ROIC
Analyzing Reinvestment
Capital Allocation
Management is not a Moat but They can widen moat
Management is not a Moat but They can widen moat
Reinvestment Vs Returning capital
What about M&A?
Summering Up
The Value Of Qualitative Insight
“All of the information is in the past,
but all of the value is in the future.”
Dis. Presentation is made by Dorsey Asset Management
@dmuthuk @Vivek_Investor @Stocksfanatic @unseenvalue @VJ_Rabindranath
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but all of the value is in the future.”
Dis. Presentation is made by Dorsey Asset Management
@dmuthuk @Vivek_Investor @Stocksfanatic @unseenvalue @VJ_Rabindranath
Tagging for reach
" title="“All of the information is in the past,but all of the value is in the future.”Dis. Presentation is made by Dorsey Asset Management @dmuthuk @Vivek_Investor @Stocksfanatic @unseenvalue @VJ_Rabindranath Tagging for reach https://abs.twimg.com/emoji/v2/... draggable="false" alt="☺️" title="Lächelndes Gesicht" aria-label="Emoji: Lächelndes Gesicht">" class="img-responsive" style="max-width:100%;"/>
Pat Dorsey is author of The Five Rules for Successful Stock Investing: Morningstar& #39;s Guide to Building Wealth and Winning in the Market https://amzn.to/39hZxD1 ">https://amzn.to/39hZxD1&q...
