What Is Staying Power?

What Is Staying Power? by Fundoo Professor

A few days ago I asked a question on twitter: What is Pricing Power?

Yesterday, I asked another one: What is Staying Power?

[munger]

I wanted to illustrate the power of focused thinking by “letting your mind wander.” What happens when you think about an idea and that idea only from multiple points of view?

Well, you get insights you wouldn’t get if you were distracted by other ideas.

Staying power is a very powerful idea. But where does it come from? The common answer I get from people is that it comes from a strong balance sheet. But that’s only part of the answer.

You have to keep asking where else does it come from. And...