In this week’s episode we discuss: -The ‘risk hierarchy’ of investing and why individual companies can carry the greatest risk -Why systematic structural advantages can lead to investment success -Porter’s 5 forces versus Greenwald: which model is better -Monopolies and oligopolies – supply versus demand -industry specific models -other simple models for finding value Other simple models - EV/EBIT (Carlisle), 52 Week Low (Wiley), Low P/E (Dreman/Neff) Net Nets (Graham), - discuss benefits of each. Bottom 3 ETFs is a pretty simple and effective model Books mentioned: Jonathan Tepper – The Myth of Capitalism Bruce Greenwald and Judd Kahn – Competition Demystified Tobias E. Carlisle – The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market Thanks for listening! Download a free chapter from our book ’Low Rates, High Returns’ https://www.lowrateshighreturns.com/book Pete Wargent https://www.petewargent.com/ https://www.linkedin.com/in/pete-wargent-37228322/ Stephen Moriarty https://twitter.com/SGM63