The Quantitative Definition of a Quality Company
The year 2019 was one where money rushed into ‘quality’ stocks. Many call this a quality bubble. Over the past decade, this kind of a strong rise in stock prices of quality companies has happened twice. The first was in the 2011-13 period and the second in the calendar years 2018 and 2019. 
 
What is common to both these periods? Well, macroeconomic conditions were gloomy in both periods....
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