Regardless of these external economic stimuli, the ground truth remains identical: be disciplined in your deployment of capital.
In an industry where you can expect the most successful companies to have a monopoly that they can use to make a lot of money, a company that can raise and spend more than its competitors can grow faster. The competitor that’s disciplined in the deployment of capital doesn’t rise to the top and thus doesn’t make the most profits.
In an industry where you can expect the most successful companies to have a monopoly that they can use to make a lot of money, a company that can raise and spend more than its competitors can grow faster. The competitor that’s disciplined in the deployment of capital doesn’t rise to the top and thus doesn’t make the most profits.