A new kebab store opened near my home last week. At least, that’s what I think the owner is selling. It’s a mess, to put it mildly. The store design is all over the place. The menu is a haphazard concoction of biryani, pasta, fries, and kebabs – all mashed together. Its Instagram page doesn’t even match the store’s name. Oh, and the store has been moving around Singapore, swinging from Pasir Ris to Yishun to Holland Village. Everything I could see told me this store had no business being successful. And yet, everything I couldn’t see told a different story. A loyal following. Customers willing to chase this store across the island. The taste is, apparently, worth the trouble. So much so that its kebabs got a rare praise from a MasterChef Singapore judge. This little experience reminded me of something important in investing … … when it comes to businesses, what you see is only half the picture....