Reblog: Quality Companies, Compounders and Value Traps – Investment Masters Class
Many of the great investors evolve over time to focus on high quality companies. In the post ‘Evolution of a Value Manager’ I outlined how Buffett, with insight from Munger and the acquisition of See’s Candy transitioned from seeking cheap companies [ie cheap PE/, price/book etc] to trying to purchase high quality companies at reasonable prices. Li Lu and Mohnish Pabrai are two Buffett disciples who have made a similar transition.
