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WebbListen to this episode from Invest Like the Best with Patrick O'Shaughnessy on Spotify. My guest today is Michael Mauboussin, who is the head of global financial strategies at Credit Suisse and is on my short list of must read writers on all things investing. If you read his entire catalogue, Howard Marks's memos, and Buffett's shareholder letters, you be … WebbMy guest today is Michael Mauboussin, who is the head of global financial strategies at Credit Suisse and is on my short list of must read writers on all things investing. If you … WebbMAUBOUSSIN & JOHNSON / COMPETITIVE ADVANTAGE PERIOD 69 is the rate of industry change. High returns in a rapidly changing sector (e.g., technology) are unlikely to be valued as generously as high returns in a more prosaic industry (e.g., beverages). The final driver is barriers to entry. High barriers to entry-or in da rata ne bude akordi