The following excerpt from an article by Gareth Brown is quite relevant to what Wayne was saying at the AGM today....
Gain today, pain tomorrow?
GARETH BROWN View the contributor's profile page
Forager Funds
34 minutes ago
Investors also need to be on the lookout for its all-too-common inverse—gain today, pain tomorrow behaviour.
In Killing Competitive Advantage from Forager’s March 2018 quarterly letter, Steve discussed the case of Gillette. Over the past decade, the shaving company made the decision to maximise short term profits through rapacious pricing. But Gillette killed the golden goose in the process, by encouraging competition.
AHZ and WP, page-53
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