Just 4% of listed companies drive the entire market's net wealth creation. The other 96%? Noise.

So I stopped trying to own everything. I started asking one question:

Is this business built to dominate — or just to survive?

My hierarchy: Monopoly → Duopoly → Oligopoly. Anything else is a fight for crumbs.

The companies that compound for decades share the same fingerprints:

• A founder with real skin in the game

• A product people use every single day

• A moat that widens as the business grows

• A flywheel that rewards customers first — profits follow

Before I invest in anything, I ask one final question:

"Would this be one of the 20 greatest businesses in the world today?"

If the answer isn't a resounding yes — the capital belongs somewhere else.

Because the real enemy in investing isn't a bad stock. It's holding a mediocre one while a great one exists.