Intelligent Fanatics

in*tel*li*gent fa*na*tic /inˈteləjənt fəˈnadik/ - n (orig from Charlie Munger) 1 CEO or management team with large ideas and fanatical drive to build their moat. Willing and able to think and act unconventionally. A learning machine that adapts to constant change. Having a focus on acquiring the best talent. Able to create a sustainable corporate culture and incentivize their operations for continual progress. Their time horizon is in five or ten-year increments, not quarterly, and they invest in their business accordingly. They own large portions of their business. Regardless of the industry, they are able to create a moat that competitors fear. 2 Outsider CEO or management team with same qualities as above, however, differ in how they build their business. They possess a large focus on re-investing dollars by purchasing outstanding businesses and ability to allocate capital in the public markets (i.e. - Henry Singleton, Warren Buffett, John Malone, etc,).