Maximizing Moats: Reinvestment Runways & Capital Allocation” - Pat Dorsey

Thread 🧵👇👇👇
• Economic Moats

• Reinvestment

• Capital Allocation
What Creates A Moat

• Intangible Assets
• Switching Costs
• Network Effects (Platform)
• Cost Advantages (Cheaper: Jio ?)
Why Moats Matter
Why Moats Matter
Why Moats Matter
Why Reinvestment Matters
The Value Of Reinvestment

ROIC
The Value Of Reinvestment ROIC
The Value Of Reinvestment ROIC
Analyzing Reinvestment
Analyzing Reinvestment
Analyzing Reinvestment
Analyzing Reinvestment
Capital Allocation

Management is not a Moat but They can widen moat
Reinvestment Vs Returning capital
What about M&A?
Summering Up
The Value Of Qualitative Insight
“All of the information is in the past,
but all of the value is in the future.”

Dis. Presentation is made by Dorsey Asset Management

@dmuthuk @Vivek_Investor @Stocksfanatic @unseenvalue @VJ_Rabindranath

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