This is just to clear the air and differentiate between good companies and good investments. In a nutshell, not all companies are good companies, but almost all companies can be good investments. Good companies do not necessarily make good investment nor are good investments always good companies. In my view, good companies are stable, deliver good returns on equity, safe margins, low debt to equity ratios, etc. Basically all of the usual things that belong in the financial statements. Good investments are a different story, here is where the rubber meets the road. A good investment returns a good return on the capital that I have put in (or basically for listed shares, the share price) and are able to deliver a good return to the investor be it in the form of dividends or capital gains (increase in price). Maybe some examples would be better able to show what ......