There are certain companies I seek out for: 1) Companies in boring industry selling low cost disposable items that people need. Repetitive simple products that do not require much innovation or invite competition. Think Gillette, Riverstone (Gloves), and Super Group (3 in 1 coffee). 2) The “secondary” or sister companies providing services to companies in competitive industry. Well companies in a competitive industry are often willing to spend money to differentiate themselves from their competitors (not that they end up with high profit margin). The companies in competitive industry get all the limelight but it is the “secondary” or sister companies that get the high earnings (or to put in simply the iron-smith who forge the swords for the knights. Let the knights have the glory and slaughter each other, the iron-smith will still be there forging the swords). Think Corning Glass vs companies in the cut-throat LCD, tablets and smartphones industry (Samsung / ......