Quality aspect recognized by investing community long time ago (e.g. in Dividend Growth Investing) and recently popped out from leading academics (Robert Novy-Marx, Eugene F. Fama, Kenneth R. French, Clifford S. Asness et.al.).
New excellent book "Quality Investing: Owning the Best Companies for the Long Term" written by Lawrence A. Cunningham, Torkell T. Eide, Patrick Hargreaves combines practical and scholar ideas which can be used by any small or big investor.
Authors describes different aspects of high quality companies and provides numerous examples of such companies (mostly from continental western Europe) in first 2 chapters. Challenges, pitfalls and common mistakes of quality investing are describes in the reminding 2 chapters from which I learned a lot.
Excellent text of the book is combined with very nice book design, so I take my hat off to Harriman House LTD, the book publisher.
On personal note: I 'm quite happy that my assessment of High Quality/Deep Moat for the European companies I own (such as Atlas Copco, Svenska Handelsbanken, Syngenta, BASF usually not or weakly covered in SA, Morningstar and other popular US sources of investment information) coincided with the authors opinion (although it might be just a reflection of the confirmation bias).
You must read "Quality Investing" book if the moat concept introduced by Warren Buffett and popularized by Morningstar and "The Rule of Three and Four" introduced byThe Boston Consulting Group's founder Bruce Henderson /see references/ make sense for you. Ifr you are not familiar with these ideas you should read "Quality Investing" book and at least one of book listed in the references. In both cases your investment experience will be significantly enhance by the by the Cunningham - Eide - Hargreaves book.
I hope to see their book expansion on Quality Investment in USA, UK, Asia, Australia and other places where good companies are located.
