I had the chance to talk with Preston Pysh and Stig Brodersen of The Investor's Podcast recently. We talked about my investment process and about what makes a great business. I also laid out some themes that have been a recurring part of Saber's portfolio over the years, such as the importance of management and a company's adaptability to change, Peter Thiel's idea on how stark the difference is between monopolies vs non-monopolies, the value of economies of scale, the attractiveness of toll roads, and a few other intangible qualities.