Protecting the Castle

10/31/2026

Pat Dorsey of Dorsey Asset Management explains how he assesses a company’s competitive moat, why he thinks business-quality-first investors have hit a rough patch, why he’s relying more on qualitative evidence in making decisions, and what he thinks the market is missing today in Veeva Systems, Tyler Technologies, Meta Platforms and Royalty Pharma.

If you are a subscriber, log in to access the issue and bonus archive: