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Hi Ferrucho,

I agree, I think both can be attractive and I look for both types as well. Re: your final section, this is something I’m struggling with. I like quality businesses and I want to spend more time there, but I am so focused on valuation and MOS that almost no high quality businesses seem to fit my valuation hurdle.

In theory I think finding great companies (compounders or not) that are also trading at attractive entry valuations is ideal, but I’m wondering if you have come across enough of these in practice to actually make it realistic?

Thanks! Really enjoyed the article and subbed to the page.

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Hi Larson,

Thank you for your comment!

In practice, I have struggled to find quality businesses at attractive valuations in the US. Nevertheless, I believe opportunities exist in other markets. Last year I focused my attention on Mexico, where I live. Here I have found opportunity.

I invite you to read my article on Cementos Moctezuma. This is one of the most high quality businesses that I have come acrossed, currently trading at a P/E of 10.

Would really enjoy chatting more, here is my linkedin, feel free to send me a message. https://www.linkedin.com/in/ferrucho-doddoli-lankenau-19984919b/

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