Let's look at some example of triple threat companies and the qualities they exhibit. As investors, the goal here is to be able to learn from success stories and apply the wisdom to future investments - hopefully enabling us to spot the signs of a potential winner and the dangers of a potential dud early.

Note - much of our analysis in these case studies focuses on the threat categories listed here. We focus on this because as much as we can speculate on the likelihood of an asset to one day 10x the value of the company, this is highly risky to rely on alone. As such, it would be wise to start off with the non-asset based threats to gauge whether management has the alignment and skills to deliver the right outcome. I am a firm believer that bad management can spoil even the best asset/business, while quality governance can extract the best outcome from a bad starting position.

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