What makes one person laugh can make another cringe. Some enjoy the physical comedy of Lucille Ball or Chris Farley, while others prefer the improvisational styles of Jonathan Winters or Robin Williams. The observational comedy of Jerry Seinfeld or Sebastian Maniscalco make some laugh, while others appreciate topical humor from Chris Rock, John Oliver, or Dave Chappelle. What we each find funny is a matter of personal taste.
The same can be said of investing: One investor's best idea can be another's throwaway. Some investors prize quality and are willing to pay more for it; others, meanwhile, are looking for mispriced names, period. Some are looking for reasonably priced stocks of firms run by managers who put shareholders first. Others want companies whose competitive advantages are improving.
This article is exclusive to Morningstar Premium members.
Susan Dziubinski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.