1. Something
he can understand. Something
in his “circle of competence”.
i. He doesn’t understand what Car
Company, software or chemical
company will win 10 years from now. But
he does understand that Snicker’s Bar
will be the number one candy bar in the U.S.
2. Durable
Competitive Advantage
i. A business that will dominate for what
appears to be forever.
3. An
Honest and Able management.
4. A
price that he wants to pay.
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