It is always nice to see a new Bruce Greenwald video. He always provides some unique Professor-like insights which have some practical investment utility. This video includes Bruce’s explanation of why Apple’s margins in the consumer market are more subject to competitive pressure compared to margins in localised vertical markets such as those in which IBM competes. The Hinterland has recently posted on the relative ‘economic moats’ of Apple and IBM and it is always nice to be on the same page as a Columbia Professor and Director of Research at First Eagle.
The Hinterland did not particularly enjoy Bruce’s book Competition Demystified, which is strange when his interviews are always so insightful.