We are not saying the New World Order should be ignored (even though it is one in which a President is running amok and the commerce secretary of the world’s largest economy is heckled at a global event). But remember: Strong businesses have endured many presidents, and this one will be no exception. So, as an investor, just focus on fundamental questions: Does the company have something which gives it an advantage over others? If yes, for how long will it be able to keep that advantage? If the answer is for the foreseeable future, then it is worth looking at. One such advantage is large market share, because it is probably the most difficult to build. And if it has been built over a period of time, it is an advantage that deserves a premium.
