— two companies that have essentially formed a duopoly in the payments industry, according to Puglia.Puglia, like many investors, sometimes gets flustered when the news on his stock picks runs contrary to his investment theses. Having managed money during the dotcom crisis and the Great
But instead of allowing crises to frighten him out of long-term bets, he digs in to check whether his assumptions about various companies hold water. His approach with this exercise and other data-gathering endeavors is to pre-establish the questions he wants answers to, whether it's about a company's edge after a new competitor arrives or the quality of management. It's important that investors do not complicate these questions, he said.
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