Seven Powers, by Hamilton Helmer
Seven Powers is an essential book on the main sources of competitive advantage in business, and a central part of the analytical framework for quality investors.
From network effects to scale economies, Helmer separates the benefits each power gives to the company that has it, from the barriers it creates for firms trying to gain it. In this way, power explains competitive advantage today, and what makes it endure long into the future - the secret to compounding.
In our book review, we summarise the benefits and barriers of each power, using clear examples, and see how it can help identify better companies, earlier.
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