Good Articles to Share
A quality strategy - appreciating the future earning potentials of wonderful companies
Though Warren Buffett popularized the idea of the moat, he credits partner Charlie Munger for bringing him around to the idea that "it's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
A quality strategy is a bet that the market doesn't appreciate wonderful companies enough, particularly their earnings potential many years out.
As Charlie Munger said, "If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you'll end up with one hell of a result."
(Of course, it's not easy to identify in advance firms that can sustain such high rates of return for so long.)
http://news.morningstar.com/articlenet/article.aspx?id=643125&SR=Yahoo
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1 person likes this. Showing 3 of 3 comments
One of the Best quotes so far. And i have to read this again and again to remind myself.
2014-06-23 00:12
stockoperator, Sorry I do not understand what it actually means and don't really know how to apply for investment in BURSA. Please advise
2014-06-23 08:34
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stockoperator
I agree Good Business with Good Return is the Margin of Safety.
2014-05-21 12:00