Hibbett Sports: A Bricks-and-Mortar Winner in Retail?

August 12, 2016 Moats 2 Comments

In 1996, the Wall Street Journal wrote its first article on online competition for travel agents.  “For more than a year,” the newspaper reported, “airlines have been trying to cut their payments to travel agents, who account for 80% of…

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Do Financial Services Companies Have Moats? Part II, American Express

January 2, 2014 Moats 12 Comments

In Part I, we looked at Nicholas Financial, a microcap subprime auto lender.  We saw evidence of a moat based on nothing more than temperament, restraint and a rational approach to credit risk.  Today, we look at a much larger…

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Introducing the Punchcard Investing Watchlist

July 18, 2013 Moats, Process 2 Comments

The Punchcard Investing Watch List has been initiated and can be found here.  It includes the first 3 moat companies we have looked at.  The four factors refer to the four factors Buffett and Munger use to evaluation companies.  Buffett…

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Links for Moat Hunters

July 4, 2013 Moats, Resources 9 Comments

Happy Fourth of July!Here are some links for the long holiday weekend:First, are some Michael Burry resources provided by John Chew at the excellent CS Investing Blog.  Michael Burry is a huge inspiration to me.  If you are not familiar…

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