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TIP583: Preparing for the Bear Market to Come w/ Gautam Baid
We Study Billionaires - The Investor’s Podcast Network
The Power of Drive Perception
Investing in a good quality business with high growth prospects for a long period of time is worth paying a high PE and sacrificing the first year return. The returns from the second to fifth years will compensate for the flat return in the first year. It is better to pay up for quality and optically high valuation multiples than to focus on lower multiples and compromise on business quality. Having a multi-year view and putting more emphasis on quality is important. Businesses that grow their earnings at a moderate pace for a long period of time may have optically high price-to-earning multiples but are actually quite low in value for value investors.
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