Although Warren Buffett and Charlie Munger are typically known as value investors, Buffett's longtime business partner once said of the team's investment track record:
We've really made the money out of high-quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the big money's been made in the high quality businesses. And most of the other people who've made a lot of money have done so in high quality businesses.
In accordance with that, Buffett famously once said, "Time is the friend of the wonderful business, and the enemy of the mediocre."