Pat Dorsey, Sanibel Captiva Trust – Using Economic Moats to Improve Investment Returns Pat is an author of The Five Rules for Successful Stock Investing, The Little Book That Builds Wealth and Vice Chairman, and Director of Research at Sanibel. Sanibel has about $600M under management • Capitalism works – High profit operations attract competition o Most businesses see returns decline over time o A moat is a structural business characteristic o Smart mangers are...
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