There is a kind of risk that never shows up in a fund prospectus.
It is the risk that a company spends real money fixing something its customers never thought was broken, then spends the next year paying for it
You probably watched that happen last summer and filed it under internet argument. It was an investing story the whole time. What the Cracker Barrel logo change actually cost Cracker Barrel Old Country Store (CBRL) runs roughly 660 restaurants in 43 states, most of them parked near interstate exits where the customer is a family that stops out of habit.
Habit is the entire business model. Break it and the repair bill lands on the income statement long after the argument ends. In August 2025, the chain swapped its Old Timer logo — the one with Uncle Herschel leaning on a barrel — for a stripped-down wordmark, and started lightening its dark, antique-filled dining rooms at the same time.