Moats don't look like they did in the 80s and 90s
On the internet, the power goes to the company people CHOOSE to interact with every day.
$Netflix(NFLX)$ in streaming
$Alphabet(GOOG)$ $Alphabet(GOOGL)$ in search/mail
$Apple(AAPL)$ in hardware
$Uber(UBER)$ in ride-sharing
$Amazon.com(AMZN)$ in retail
$Intuit(INTU)$ for taxes
Moats don't look like they did in the 80s and 90s.
Great companies are built by people who push boundaries.
Sentiment is correlated with a stock's price.
If you want to beat the market, buy great companies when the sentiment around them is bad.
My biggest wins have been unexpected. This is intentional, but not predictable.
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