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Ten golden rules of investing
Acompany is essentially a group of people with a common goal, namely to create the best possible product at the best possible price. This is what I call “quality”. Sure, companies need fixed assets but they are worthless without people. Once one thinks in these terms, one can appreciate that predicting the long-term performance of a company is all about assessing the quality of its people.
Hugh Young is managing director at Aberdeen Asset Management Asia.