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Strategies & Market Trends : Gorilla and King Portfolio candidates - Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Eric Jacobson who wrote (2384)	11/30/2007 3:01:07 PM
From: Thomas Mercer-Hursh	Respond to of 2955

Thanks for the start. I might add a couple of other qualifications. One, I think one needs to look very carefully at the moat, particularly with how defensible it is. Having gotten to the market first and having thus generated high market share is certainly a big help, but those who have no way to defend themselves against competition are vulnerable to someone else coming along and simply doing the same thing better. Two, I think we also need to include an element of valuation. One can well have a company which has all the right "stuff", but if the market has already discovered it and even over-discovered its future potential, much of the potential upside can be already gone and the risk high in case the expectations are not met.