It includes companies with superior management teams who are focused on a business plan that makes sense.

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ObamaCare seeks to replicate these institutions nationwide, even though their successes had more to do with local traditions and superior management.

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Ideal investments are those few high-quality businesses run by superior management teams with significant ownership interest, favorable industry tailwinds, and a visible catalyst to realizing value.

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Superior ownership, along with a management team that has an eye for talent and a sense for branding, can become the successful cornerstones of any business.

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Drawing on Warren Buffett's observation that it cannot be a coincidence that a group of investors taught by Benjamin Graham can make above average returns, Mr Mallaby presents original research on the performance of a group of fund managers who worked with Julian Robertson at Tiger Management, and similarly reveals superior returns.

ECONOMIST: Learning and learning

For example, all Executive models are equipped with Adaptive air-suspension featuring Porsche Active Suspension Management (PASM), which combines superior performance and enhanced ride comfort.

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