The Industry dynamics and Competitive positioning have a huge influence on the long-term success (or failure) of a business. Excellent article and illustration on the topic.⬇️
My Portfolio snapshot from 04/14/2010. All these positions were acquired between late Dec'08 and 03/06/2009 (GFC bottom).
A hard look and few lessons from that time. ⬇️
Some background :
After dabbling in some rookie trading in 07-08 (tiny portfolio) and getting my fingers burnt from a trade in Crocs (Oct'07, long story), I was mostly on the sidelines and just watched the Financial meltdown starting Sep'08.
Was lucky enough to read some Seth Klarman, Peter Lynch and Buffett stuff during Fall 2008 which put things in perspective.