#6 Always look to invest in companies with a strong competitive advantage

By Anton Tagliaferro, Daniel Moore and Bruce Du |  20 September 2018
Chess pieces

One of the key attributes that IML looks for when we invest in stocks is to focus on companies that have a sustainable competitive advantage. In our view a strong competitive advantage is a key reason why some businesses can outperform others over the longer term. At its core, a strong competitive advantage allows a company to earn higher returns than a company that operates in a commodity type business or in an industry with lots of competitors making similar goods.

So how can one identify companies with strong competitive advantage?

20 lessons from 20 years
of Quality and Value Investing


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