
Three Questions for Investing in Non-Tech Stocks
I’ve spent a lot of time making the case for technology stocks, so it’s a bit ironic that my whole investment journey started with HEICO, a company that’s anything but digital. It was HEICO’s combination of a low-cost advantage and a tiny slice of a massive market that really opened my eyes. It taught me to hunt for businesses with both a competitive moat and the potential for exponential growth. As it turned out, when I applied this lens to the market in the early 2000s, about 90% of the companies that fit were in tech. But that other 10% was fascinating.
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