Sometimes you read a book that makes you rethink your investment philosophy and/or portfolio management style. The Art of Execution is that type of book.
Glenn briefly breaks down the book about how some of the best European stock pickers handled losing positions and winning positions. How they were able to generate excess return even though picking winners was no better than 50/50.
After reading the book how it has us rethinking initial starting positions and maximum position size rules for companies with strong and expanding business moats. Glenn finally discusses which companies in the portfolio now fall into the expanded maximum position size basket.