How To Find Exceptional Businesses?
"Buy exceptional companies and do nothing" is the formula of success in investing. But... How to find such exceptional companies? Let me explain.
If you asked me to formulate successful investing in a sentence, I would say this:
“Buy companies with durable competitive advantage at attractive prices and do nothing.”
Doing nothing and buying at attractive prices are generic actions in the formula that depend on the critical ingredient: Companies with durable competitive advantage.
You buy them at attr…