The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.

Whatever investment you do, you should know in what kind of underlying business you invest and understand that some companies won’t yield the kind of investments you hope for overnight. You can start something new, like a Capitec, develop it while you can take pride in a high price/earnings ratio (PE) of 25, or how much you’re willing to pay for th

“Checklist” routines for critical factors help - assuming I am competent enough to decide what factors are critical and that I can evaluate them