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Winning the Loser’s Game, 6th edition: Timeless Strategies for Successful Investing by Charles Ellis

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CHAPTER 7YOUR UNFAIR COMPETITIVE ADVANTAGE: INDEXING

ALL GREAT STRATEGISTS SEEK TO ESTABLISH A SUSTAINABLE advantage over their competitors. That’s why:

• Army generals want to take the high ground and to have the advantage of surprise.

• Coaches want stronger, taller, faster players; strive for ever better conditioning; and care a lot about team spirit and motivation.

• Corporate strategists attempt to create “branding” franchises for their products and services and try to build strong brand loyalty among each group of customers.

• Corporations strive to move up the “experience curve” so that their unit costs of manufacturing will be lower than those of any competitor’s. Patent protection, FDA approval, low-cost transportation, technological ...

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