It’s often as much art as it is science to uncover the key elements that go into finding exceptional businesses. However, making an effort to distill some of these items into a more formulaic process is arguably well worth the effort. Businesses that can generate substantial shareholder value can provide investors with significant outperformance compared to investing in an index like the S&P 500 (SPY).
While there are no doubt many intangibles that go into the process of generating high returns, it’s been my experience in managing my own growth portfolio that there