Peter Doyle
Peter Doyle
barrier companies create general highly invested poor retailing returns unless
Retailing in general is highly competitive and most companies have very poor returns on invested capital. Unless you create a barrier of entry, you're never going to see very big returns.
erosion focusing investment likely list margin names pan permanent pieces reflect safety sustain
All those names on that list actually reflect kind of a margin of safety where even if the investment pieces don't pan out, you're likely to do well or not sustain a permanent erosion of capital. So that's what we've been focusing on,
coming phone provide satellite three
There are really three technologies that are going to provide broadband. It's going to be cable, satellite and DSL, which is coming over the phone lines,
bear kinds market seeing short summer typical
We're seeing a rally, but it's a summer day and it's typical of a bear market to have these kinds of sharp, short rallies,