Quest for quality

If you look in the dictionary, 'quality' is a simple word. The most common definition of quality is something like 'How good or bad something is' or 'A high standard or level'. It's one of those words whose meaning is so obvious that it can't be put into words. Everyone already knows what it means, and there is nothing that a dictionary definition adds to our understanding. When it's clothes, food, phones, or any other everyday object, judging quality is not so difficult. But stock investments are a different matter. If you ask anyone, absolutely anyone, whether they invest in quality stocks, you will get a yes for an answer. You'll get some definitions for quality stocks, such as stocks that are available at a reasonable valuation with a long-term perspective. Everyone in the investing world says this or something like this. I mean, who would ever say the opposite? And this makes the challenge of identifying quali