Chapter 6. In Search of Excellence: Are Good Companies Good Investments?
Petra's Search for Excellence
Petra was an avid reader of management strategy books, and she was convinced that she had found a way to make money on stocks. After all, the strategy books she read often had case studies about the best-managed and the worst-managed companies and the skills (or lack thereof) of the managers in these firms. All she had to do was find the best-run companies in the market and put her money in them and the returns would surely follow. In a stroke of luck, Petra found a listing of the 20 best companies in the United States in Fortune Magazine and it was not long before she had all 20 stocks in her portfolio. As she bought the stocks, Petra did notice ...
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