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08271nam a22001937a 4500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
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20250505154020.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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250505b |||||||| |||| 00| 0 eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER |
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| International Standard Book Number |
9781394285747 |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
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| Classification number |
332.6 |
| Item number |
KOL |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Kold, Simon |
| 245 ## - TITLE STATEMENT |
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| Title |
On the hunt for great companies: |
| Remainder of title |
an investor's guide to evaluating business quality and durability |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Name of publisher, distributor, etc. |
John Wiley & Sons, Inc. |
| Place of publication, distribution, etc. |
Jersey |
| Date of publication, distribution, etc. |
2025 |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
xiv, 311 p. |
| 365 ## - TRADE PRICE |
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| Price type code |
USD |
| Price amount |
44.95 |
| 500 ## - GENERAL NOTE |
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| General note |
Table of contents:<br/>Acknowledgments xiii<br/><br/>List of Figures xv<br/><br/>List of Tables xix<br/><br/>List of “Let’s Sniff Around” xxi<br/><br/>Introduction 1<br/><br/>Part I What Makes Some People Create Exceptional Long- term Per-share Business Performance? 7<br/><br/>Chapter 1 Passion 9<br/><br/>1.1 Perseverance and Internal Motivations 11<br/><br/>1.2 Focus on All Stakeholder Constituencies 14<br/><br/>1.3 Decision- making Time Horizons 17<br/><br/>1.4 Career Path and Tenure 18<br/><br/>1.5 Retention of People 23<br/><br/>1.6 Authenticity Indicates Passion 25<br/><br/>Chapter 2 Long- term Incentives 35<br/><br/>2.1 Board of Directors 38<br/><br/>2.2 Disincentives 40<br/><br/>2.3 Transactions in Own Shares 42<br/><br/>Chapter 3 Capital Allocation 45<br/><br/>3.1 Value- accretive Buybacks versus Buybacks 47<br/><br/>3.2 Hurdle Rates Should Be Determined by Alternatives 50<br/><br/>3.3 Value Destructive Acquisitions 52<br/><br/>3.4 Unsung Capital Allocators 53<br/><br/>3.5 Metrics and Vocabulary 54<br/><br/>Chapter 4 Reliable Communication 57<br/><br/>4.1 Past Predictions and Ex Post Outcomes 59<br/><br/>4.2 Genuineness as Indicator of Reliability 61<br/><br/>Part II What Makes Competitive Advantages Intense and Durable? 65<br/><br/>Chapter 5 Economies of Scale 73<br/><br/>5.1 Relative Scale and Relevant Market 75<br/><br/>5.2 Prohibitive Costs 76<br/><br/>5.3 Evaluating the Intensity and Durability of Economies of Scale Advantages 77<br/><br/>5.3.1 General analyses 77<br/><br/>5.3.2 Distribution network density 84<br/><br/>5.3.3 Purchasing scale advantages 86<br/><br/>5.3.4 Marketing scale advantages 88<br/><br/>5.3.5 Production scale advantages 89<br/><br/>5.3.6 Related concepts 90<br/><br/>Chapter 6 Switching Costs 93<br/><br/>6.1 Sticky Customers, Add- on Products, and “Cost of Switching” 95<br/><br/>6.2 Switching Cost Multipliers 97<br/><br/>6.3 Evaluating Intensity of Switching Cost Advantages 98<br/><br/>6.3.1 Costs of switching 98<br/><br/>6.3.2 The arbitrage of switching costs 100<br/><br/>6.3.3 Churn, retention, and cohorts 101<br/><br/>6.3.4 Risk of standardization 104<br/><br/>6.3.5 Risk of excessive value extraction 106<br/><br/>Chapter 7 Network Effects 107<br/><br/>7.1 Boundedness 110<br/><br/>7.2 Critical Mass and Relative Scale 110<br/><br/>7.3 Evaluating the Intensity and Durability of Network Effect Advantages 111<br/><br/>7.3.1 General analyses 111<br/><br/>7.3.2 Protocol network effects 122<br/><br/>7.3.3 Expertise ecosystem network effects 125<br/><br/>7.3.4 Two- sided networks 128<br/><br/>7.3.5 Data network effects 132<br/><br/>Chapter 8 Brand Advantages 135<br/><br/>8.1 “Identity Creating” or “Uncertainty Reducing” 138<br/><br/>8.2 Brand Time Constraints 140<br/><br/>8.3 Luxury Brands 141<br/><br/>8.4 Evaluating Brand Advantages 142<br/><br/>8.4.1 Brand benefits 142<br/><br/>8.4.2 The Lindy effect and brand longevity 143<br/><br/>8.4.3 Geographical boundedness 144<br/><br/>8.4.4 Analytical risk of over- interpreting brand loyalty data 145<br/><br/>8.4.5 Counterfeiting risk 146<br/><br/>8.4.6 Brand experience control risk 146<br/><br/>8.4.7 Brand dilution risk 146<br/><br/>Chapter 9 Proprietary Resources 149<br/><br/>9.1 Favorable Access to Raw Materials 150<br/><br/>9.1.1 Locking up favorable sources 151<br/><br/>9.2 Proprietary Technology 152<br/><br/>9.3 Favorable Locations 154<br/><br/>9.4 Favorable Government Treatment 157<br/><br/>Part III What Makes Some Companies Less Risky and More Valuable Than Others? 161<br/><br/>Chapter 10 Fair Value Extraction 163<br/><br/>10.1 Tapped and Untapped Pricing Power 165<br/><br/>10.2 Lack of Value Capture 169<br/><br/>10.3 Determinants of Choosing to Withhold Value Extraction 169<br/><br/>10.4 Risk of Extracting Excessive Value from the Supply Side 170<br/><br/>10.5 Evaluating the Risk of Excessive Value Extraction 171<br/><br/>Chapter 11 Staying Power 175<br/><br/>11.1 The Pace of Technological Change in the Industry 178<br/><br/>11.2 Exposure to External Foundational Technological Shifts 181<br/><br/>11.3 Cultural Embeddedness 183<br/><br/>11.4 Cost- effectiveness 184<br/><br/>11.5 Demographic Exposures 185<br/><br/>11.6 Exposure to Industry Channel Changes 185<br/><br/>11.7 Age of Technology/Product Category 186<br/><br/>11.8 Staying Power Versus Growth 187<br/><br/>11.9 Evaluating Staying Power 187<br/><br/>Chapter 12 Proven Business Model 191<br/><br/>12.1 Geographical Replicability 197<br/><br/>12.2 Expansion Investments 199<br/><br/>12.3 Lifetime Unit Economics 201<br/><br/>Chapter 13 Predictable Demand Drivers 205<br/><br/>13.1 Line of Sight of Revenues 208<br/><br/>13.1.1 Backlog of orders 209<br/><br/>13.1.2 Upgrade cycles and replacement sales 209<br/><br/>13.1.3 Contractual recurring business 210<br/><br/>13.1.4 Aftermarket services and spare parts 212<br/><br/>13.2 Predictability of Longer- term Industry Demand 213<br/><br/>13.2.1 Determinants of predictability beyond line of sight 213<br/><br/>Chapter 14 Reinvestment Options 217<br/><br/>14.1 Product Line Expansion 220<br/><br/>14.2 Territorial Expansion 222<br/><br/>14.3 Increased Capacity 223<br/><br/>14.4 Customer Acquisitions and Brand Building Investments 225<br/><br/>14.5 Buying Other Companies 226<br/><br/>14.5.1 Consolidations of fragmented industries 226<br/><br/>14.5.2 Cross- selling with switching cost multipliers 227<br/><br/>14.5.3 Acquihires 228<br/><br/>14.6 Lack of Reinvestment Options 230<br/><br/>Chapter 15 Scalability and Low Incremental Costs 231<br/><br/>15.1 Determinants of Marginal Cost 233<br/><br/>15.2 High Break- even Point 235<br/><br/>15.3 Scalability of Infrastructure 236<br/><br/>15.4 Operational Leverage Magnifies Cyclical Risks and Exit Costs 238<br/><br/>15.5 Capital- light Versus Capital- intensive Businesses 239<br/><br/>Chapter 16 Cyclical Risks 241<br/><br/>16.1 Cyclical Company: Good or Bad? 243<br/><br/>16.2 Degree of Cyclicality 244<br/><br/>16.2.1 Historical cyclicality 246<br/><br/>16.2.2 Historical managerial behavior 247<br/><br/>16.3 Minimizing Analytical Risks Caused by Cyclicality 248<br/><br/>Chapter 17 Other Risks 255<br/><br/>17.1 Dependency Risks 256<br/><br/>17.2 Diversity of Income Streams: Risks and Benefits 257<br/><br/>17.3 Leverage Risks 261<br/><br/>17.4 Geopolitical Risks 264<br/><br/>17.5 Regulatory Risks 265<br/><br/>17.6 “Unknown” Risks 267<br/><br/>Chapter 18 Final Remarks 271<br/><br/>18.1 Analytical Errors 273<br/><br/>18.2 Price Matters 275<br/><br/>18.3 Predicting Quality 276<br/><br/>Appendix: Banana Peels of Inductive Logic 281<br/><br/>Prediction Based on Past Experience 281<br/><br/>Argument from Cause 282<br/><br/>Argument from Generalization 283<br/><br/>Argument from Analogy 284<br/><br/>Argument from Authority 285<br/><br/>Anecdotal Argument 286<br/><br/>About the Author 289<br/><br/>Notes 291<br/><br/>List of Companies Profiled 301<br/><br/>Index 303<br/><br/>[https://www.wiley.com/en-us/On+the+Hunt+for+Great+Companies%3A+An+Investor's+Guide+to+Evaluating+Business+Quality+and+Durability-p-9781394285747#tableofcontents-section] |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc. |
Essential guide for detailed evaluation of business quality aimed at investors in both public and private markets<br/><br/>A practical tool for investment analysis, On the Hunt for Great Companies: An Investor's Guide to Evaluating Business Quality and Durability helps readers analyze target companies in relation to 17 traits of business quality, as well as the nuances within them.<br/><br/>Readers will learn how to empirically evaluate the traits of a good business, including passionate management, staying power, abnormal reinvestment options, low dependency risk, and to identify emerging quality. <br/><br/>This book is supported by a wealth of real-world examples, both contemporary and historical, detailed original illustrations, and true business stories and anecdotes from investor and former comedian Simon Kold. In this book, readers will learn about:<br/><br/>Practical guidelines for research into 17 nuances of business quality<br/>Methods to formulate falsifiable test statements and empirically test those predictions, rather than relying on heuristics or box-checking<br/>Incorporates memorable investment advice through Kold’s trademark humorous style<br/>Detailed, sophisticated, and highly actionable, On the Hunt for Great Companies is an essential for professional investors of all sizes, in all industries, in both public and private markets.<br/>(https://www.wiley.com/en-us/On+the+Hunt+for+Great+Companies%3A+An+Investor's+Guide+to+Evaluating+Business+Quality+and+Durability-p-9781394285747) |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Investments handbooks, manuals etc. |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Koha item type |
Book |
| Source of classification or shelving scheme |
Dewey Decimal Classification |
