Chapter 10: All companies are different
Like human beings, all companies are different. They operate in a variety of industries, have individual management teams, have unique balance sheets and respond differently to changing economic conditions. In a bid to corral this vast diversity, sharemarket investors sort companies into specific categories. This is a natural coping mechanism and it is terrifically helpful for investors to more fully understand what they are investing in. Ideally, an investor would be able to borrow the sorting hat from the JK Rowling’s Harry Potter books so they didn’t have to guess which part of the world each company belongs to. Alas we don’t have an official sorting hat, but we can apply our own methods to achieve ...
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