This is almost an example I mentioned earlier where it's you know they kind of

took over a mountain no one else really knew they wanted and you've built a

really nice cash generous to the business on top of that and then as long as

management makes good capital allocations get choices with the cash they generate

you can start getting some pretty decent it's a pretty decent return.

I'm Chris Hill and that's Jim Gillies from Motley Fool Canada.

Bricky Mulvey caught up with Jim and his colleague Ian Butler to talk about

companies with unusual modes. Some competitive advantages are well known but

let's face it some economic modes just aren't that obvious like utility

poles engineering software even gentleman's clubs. In this episode Jim and Ian

talk about what makes something a mode and the metrics that can reveal a true

competitive advantage. There's a lot of ways that a company can create a mode

but I think that's really what it comes down to it's just your ability to

sustain a competitive advantage over a long period of time is there is there any

other fancy definition or way of describing it in your mind. One that I like

to to refer to I'm not sure I'm not sure it's ever been really you know the

textbooks doesn't get equated to both companies that go after industries that

nobody else wants. I think we've got a few examples of that planned for you

today but you know it's you took control of a mountain no one else knew they

wanted and then kind of at the at the end of the day you kind of realize oh this

company controls this subspace it doesn't have to be something terribly you

know exciting and sexy you know internet security or sometimes you can find

...