“Investors who view businesses from a competitive perspective often miss the crucial point that these cash flows are driven by the behavior of a company’s existing and future customers, not by its competitors” InvestingCompetitive AdvantageCustomer Loyalty Book:Investing in Hidden Monopolies: Why Customer Loyalty Creates Superior Moats and How You Can Profit Source: Investing in Hidden Monopolies: Why Customer Loyalty Creates Superior Moats and How You Can Profit