Competitive Advantage in Investing

[b]Links theory and practice for investment professionals and portfolio managers, demonstrating why some portfolios consistently perform better than others[/b] Investing well, like any other business, depends on competitive advantage. Some portfolios reliably generate greater returns than others because they simply are better positioned to benefit from strengths and avoid weaknesses. Building and using competitive advantage becomes central to the daily work of the best mutual funds, hedge funds, banks, insurers and virtually every other type of portfolio. But competitive advantage commonly is overlooked in most written work for investment professionals. The literature oft…