Clay Finck chats with Arif Karim about the importance of pricing power, the investment case for Ferrari stock, and much more!Arif is a senior investment analyst at Ensemble Capital. Before joining Ensemble Capital, he was a senior investment analyst and co-portfolio manager at Kilimanjaro Capital.IN THIS EPISODE, YOU’LL LEARN:00:00 - Intro02:03 - The importance of pricing power for a company operating in an inflationary environment.04:06 - How an investor can determine whether a company has adequate pricing power or not.09:39 - Why Costco has spectacular pricing power, despite their very low margins.15:52 - The investment case for Ferrari.38:58 - What an idiosyncratic business is.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out Ensemble Capital’s Blog: Intrinsic Investing.Related episode: Listen to MI149: Peter Lynch & GARP Investing w/ Robert Reynolds, or watch the video.Related episode: Listen to TIP376: The Value Of Netflix w/ Arif Karim, or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.RentSavvy is the first and only nationwide service for filling your rental property with a quality tenant for one flat fee. Register your rental property for free at RentSavvy.co now, to take advantage of this tenant placement service for your next vacancy.Have the visibility and control you need to make better decisions faster with NetSuite’s cloud financial system. Plus, take advantage of their unprecedented financing offer today - defer payments of a full NetSuite implementation. That’s no payment and no interest for six months!Make investing in Short Term Rentals aka Air-BNBs simple, passive, and profitable with Techvestor. Listeners of Millennial Investing get better terms by just mentioning "Millennial Investing!" Sign up and book your call with their Investor Relations Team to get started today.Your home might be worth more than you think. Earn extra money today with Airbnb.Support our free podcast by supporting our sponsors.Connect with Arif: Website | Twitter | LinkedIn   Connect with Clay: TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.