Should equity investors only ever buy cheap?

Equity investors often debate whether buying cheap stocks is the most effective strategy, but focusing solely on price can lead to missed opportunities. While undervaluation matters, long-term returns are more often driven by the quality of the company, its competitive advantages, and its ability to generate sustainable growth. By balancing valuations with these qualitative factors, investors can achieve more resilient portfolios. Discover strategies for balancing risk and reward in equity markets.