Investment Approach
The evolution from value investing to quality investing, and why asking "is this good?" beats "is this cheap?"
Value Investing
The traditional approach of finding stocks trading below intrinsic value, its origins in Benjamin Graham's framework, and its limitations in modern markets.
Quality Investing
The evolved approach of buying excellent businesses at reasonable prices, focusing on business model, competitive position, management, and earnings durability.
Price vs Quality
The reordering that changes everything — why asking 'is this good?' before 'is this cheap?' transforms your investment process and outcomes.
Graham to Buffett
The evolution of value investing — from Benjamin Graham's systematic screening for cheapness to Warren Buffett's emphasis on business quality, moats, and long-term earnings power.