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The Zulu Principle: Making extraordinary profits from ordinary shares by Jim Slater

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6. Something New

Something new is a highly desirable but not absolutely mandatory criterion for investment. Companies with excellent brand names, like Glaxo and Cadbury Schweppes, and well established companies in niche markets like Rentokil, continue to churn out increased earnings per share at well above average rates year in and year out without the benefit of anything new. They may add a new product or service to their range, but nothing dramatic – nothing that in itself would cause earnings to soar. Knowing that I might find another growth share like Glaxo or Rentokil, I do not insist upon any new selection of mine benefiting from something new, provided that most of my other investment criteria are met. However, when I do find a share ...

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