Source: Livewire
By: Patrick Poke

Key points:

• The three key attributes to look for are; 1) A tailwind, 2) An expanding moat, 3) An aligned culture.
• A shrinking moat can be dangerous – just ask shareholders of Nokia and Yahoo.
• Investor’s shouldn’t allow ‘value’ to deceive them into thinking that an investment is safe.
• Culture is a huge differentiator between successful and unsuccessful organisations.
• Research isn’t about getting more numbers, it’s about talking to people who know the business well.
• Successful equities investing requires ignoring the pessimists.