Image author: Jack Moreh. Source: Freerangestock Free Commercial Images Please skip the intro if you have read my previous articles. It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." - Warren Buffett What is a wonderful company, and what is 'quality' from an investing standpoint? The most constructive definition to address this question is Warren Buffett's concept of 'economic moat', i.e. a long-lasting competitive advantage that allows a given company to harvest above-average returns on its capital, even when faced with economic downturns or powerful competitors. A quality investing strategy should, therefore, capture the fundamental...
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