Great post! Very true regarding the three pieces that go into valuation. In my own personal investments, the only thing I add to my criteria are earnings growth per share. Since good solid earnings are only good long term if they continue to outpace the other companies in their market quarter after quarter then I find the best companies in a particular sector are the ones that have seen earnings growth at a percentage higher than the other companies in their sector. Love the style of the investment philosophy. Very Buffetesq.