MSFT - In A World Full Of Numbers These Non-Numeric Factors That Matter More
Background
People with very high IQs and who are good at math naturally look for a system where they can just look at the math and know what security to buy. It's not that easy. You really have to understand the company in its competitive position and the reason why its competitive position is what it is and that is often not disclosed by the math.
- Charlie Munger at the 2013 Berkshire Hathaway Annual Meeting
In terms of stock picking for the long run, we like the use of a factor-based model to rank