Maryland-based asset management firm T. Rowe Price (NASDAQ:TROW) strikes me as a "low bar" type of investment for a number of reasons. What I mean by that is you don't need exceptional strides in business results in order for an investment to turn out reasonably.
In my view, everything in the investment world comes back to quality and valuation. Neither aspect is going to be perfect (you have to make guesses about the future) but it gives you a logical framework when you consider these two factors as your building blocks.
On the valuation front I often think in terms of past, present and future. What that means when you're looking at a business is the balance sheet, pricing power and future staying power.
