Walmart started slow in 1962, based out of Arkansas, and then spread like wildfire in the southeast, starting in 1970, and then made its way towards the west coast. Sam’s Club starts to sprout up in the 1980s with bursts up to present. Check out this cool one minute video of the rapid spread of the company in pictures. To read a really great book on Wal-Mart’s growth and its (former) moat, check out Bruce Greenwald’s Competition Demystified: A Radically Simplified Approach to Business Strategy. The chapter on Wal-Mart in my opinion is the best part of the book, and required reading for all value investors.
The video is embedded below:
In April, Li Lu and Bruce Greenwald took part in a discussion at the 13th Annual Columbia China Business Conference. The value investor and professor discussed multiple topics, including the value investing philosophy and the qualities Li looks for when evaluating potential investments. Q3 2021 hedge fund letters, conferences and more How Value Investing Has Read More