There is a lot to learn from the quarterly analyst calls which listed companies arrange. The best promoters understand their business in great depth and are very focused on growing it. They are intelligent fanatics and are willing to spend what is needed to give them a competitive edge even though they know these Capex investments take time to affect their bottom line.
They are often frustrated by the analysts on these calls, who are more focused on the numbers and want to figure out how much money they can make by buying or selling the share.
This is one of the reasons why many promoters don't respect analysts - they think they are too focused on short-term results. Good promoters prefer taking a long-term view because they know it takes time and money to create a sustainable competitive moat. They are intelligent fanatics as regards capital allocation and have the patience to take long-term bets, which may take years to deliver results.
Sadly, most analysts don't have this kind of long-term perspective because they don't understand the operational complexities of running the business - they are only interested in studying the financial statements! Their ignorance is reflected in the quality of the questions they ask the CEO.