Finding Companies That Break the Rules

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[00:02:03] – (First question) – Among the experiments that David has run in his podcast, which one has he enjoyed the most

[00:03:42] – A deep dive into the rule breaker mentality that David uses

[00:05:52] – How his model may mimic venture capital early stage investing

[00:07:22] – What helps you to not sell a rule breaker amid big drawdowns.

[00:12:25] – List of criteria in picking rule breaker stocks, starting with top dogs and first movers

[00:19:34] – Second criteria – visionary leadership and the traits David looks for in a leader 

[00:24:07] – Smart backing as part of that second criteria

[00:26:16] – Third criteria – competitive advantage and moats

[00:30:50] – Looking at the development of the Motley Fool brand and business

[00:39:29] – Looking at David’s writing and how it has evolved over the years

[00:43:33] – Back to criteria, the fourth one, price momentum

[00:50:03] – Last criteria, something being overvalued and weigh that against the idea of whether a product or service is important based on whether people would miss it

[01:01:21] – Looking at David’s process for finding a stock and analyzing it

[01:07:38] – The importance of taking these criteria in concert and how you can see the power of overvaluation 

[01:14:38] – Kindest thing anyone has done for David