Practical Examples in One Sector


In this lecture we give some practical examples of ranking businesses by quality characteristics:




Some professional investors who have mandated which for example require them to limit tracking error may adopt neutral sectoral stances, and this would be one way of ensuring they owned the right stocks in each sector.

We explain the process by giving practical examples form the UK transport sector which when I happened to cover it was an unusually diverse and difficult sector with wide-ranging quality characteristics.

As a supplement, this video explains why a company has not met quality criteria using charts. 


The article by Morgan Stanley highlights comments from Warren Buffett at 21 and gives some of their quality criteria.

3 Lessons from a 21 yar old Buffett - Quality Morgan STanley.pdf
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