August 31, 2025 | Enzo Ferrari insisted his company would “always deliver one car fewer than the market demands.” That single sentence explains almost everything about a business that sells barely 14,000 automobiles a year, yet enjoys gross margins north of 50%, trades for a price-to-earnings ratio that would make most software founders blush, and has turned every dollar invested at its 2015 IPO into nearly ten today. The post Ferrari: High-Speed Compounder appeared first on The Investor'...
