In this episode, Simon explains how private equity (PE) works and why the returns are often not beating stock market indices like the S&P 500, despite what is broadly claimed by PE fund managers. Braden goes over the two main types of stock positions that Akre Capital Management focuses on. We finish the episode by talking about what does not qualify as a moat. Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor  Spotify - The Canadian Real Estate Investor  Sign up for Finchat.io for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense. See omnystudio.com/listener for privacy information.