Two years in a row we’ve had Platinum’s Kerr Neilson talk at Intelligent Investor roadshows. Two years in a row I’ve found it somewhat disjointed and difficult to follow. Presentation skills to one side, though, the man is a genius. The more I reflect on the things he said, the more impact his thoughts have on me.
Last year it was the concept of ‘the gap’. Don’t just understand that there is a gap between a company and its competition, understand why that gap exists and whether or not it is sustainable.