Learn investment analysis through real examples. Each case study applies frameworks to actual companies — showing how I think, what I got right, and what I learned.
How switching costs and ecosystem effects create durable competitive advantages in enterprise software — and what happens when activists get involved.
Analyzing moats in enterprise software: government contracts, data network effects, and the difference between hype and durable advantage.
How gamification and habit formation create retention moats — analyzing recurring revenue quality in consumer subscription businesses.