Are “Good Companies” Good Investments?

At first glance, investing seems like it should be easy. Just buy shares in “good companies”, sit back, and profit. As easy as it sounds, that’s not how investing works, and the “good company is a good investment” fallacy is something that every investor needs to understand.

Referenced in this video: Stocks of Admired Companies and Spurned Ones: Glamour Brands and Glamour Stocks: Investor Sentiment, Stock Characteristics, and Returns: Contrarian Investment, Extrapolation, and Risk: Valuation Bias and Limits to Nudges: Conditional Skewness in Asset Pricing Tests: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/ ————————— Follow Ben Felix on - Twitter:

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