In an ocean of between 200 and 245 million companies worldwide, according to the World Bank, “the key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.”
This quote by Warren Buffett, the Chairman and CEO of the Berkshire Hathaway management company, contains one of the five main qualities that a quality business must have to be considered a good investment, while, of course, taking into account barriers to entry, structural growth, cash generation and high return on capital.