Sampro TV's "Investment With the Star" Award
A working investor highly praised by Chairman Kim Dong-hwan

Finding true value in volatility
Accompanying excellent companies that do not lose their shine over time
Everything about top-down quality investing!

“Good companies and long-term investors win, not those who guess stock prices.”

This book contains the philosophy and practical experience of FundEasy, an investor who, after countless trials and errors, discovered the path to "peaceful investment."
The author argues that investing in good companies over the long term, rather than short-term trading or market predictions, is the most realistic and consistent path to profit.

This book presents a specific strategy for reading the major trends of the industry from a top-down perspective and selecting the best companies based on quality.
It reinterprets the philosophies of investment gurus like Warren Buffett, Terry Smith, and Druckenmiller to suit the perspectives of Korean investors, and provides methods for identifying truly excellent companies based on three criteria: "good financials," "strong moat," and "outstanding management."

As with the revival of Microsoft, which was considered a "one-hit wonder" throughout the 2000s, insight into the direction and quality of the market is more important than short-term fluctuations.
This book highlights the power of leading companies that ride the market's major trends and presents an investment compass to help you navigate volatile markets.
Especially for busy working investors, we offer the true power and investment method of "long-term investment that accompanies companies that do not lose their luster over time."

Quality investing doesn't require you to waste your emotions by looking at the ever-changing market price window every day.
What investors need to do is dig deep to initially select good companies, and then put great management to work for us.
This is the most ideal and realistic method for office workers who want to invest while staying true to their main job and still be able to sleep soundly at night.
--- p.26

First, we need to clarify the concepts of top-down and bottom-up.
These two indicate the 'direction' of the analysis.
Top-down is an approach that starts from the forest, such as the macroeconomy or industry, and works down to the trees, such as individual companies.
Bottom-up is a method that starts with individual companies (trees) and expands the perspective to the industry (forest) to which the companies belong.
And another key point in this book, quality, is the criterion and methodology I use when conducting bottom-up analysis.
That is, among the numerous bottom-up analysis methods, I adopted the method that focuses on the intrinsic quality of a company.
--- p.28

Among the many gurus, I'd like to introduce three masters who have become my investment compass.
Warren Buffett, who gave us insight into 'what' companies to buy, Terry Smith, who showed us the discipline of 'how' to hold them, and Stanley Druckenmiller, who taught us wisdom on 'when and where' to focus.
Let's explore how their wisdom became the foundation of a "top-down quality investment strategy."
--- p.37

The core of Druckenmiller's investment philosophy lies in "future imagination," which connects present facts to future outcomes.
What matters is not the world we see now, but the world 12 to 18 months from now that the current variables will create.
He constantly simulated how major events, such as changes in central bank monetary policy, the emergence of innovative technologies, and geopolitical risks, would trigger chain reactions that would alter future asset prices.
--- p.46

Now that you understand the megatrends that are changing the world, it's time to gather and discern information to translate it into practical investment ideas.
Great investment ideas aren't born from vague predictions, but from consistently acquiring quality information and processing it according to your own standards.
--- p.61

The most important thing in financial analysis is not to be confined to specific point-in-time numbers, but to understand long-term trends and steadiness over the past five to ten years.
Only when we can understand, through numbers, how robust a company's business model is, how resilient it is to crisis, and how prepared it is for the future, can we truly move forward.
--- p.80

Behind every great company there is always a great management team.
They dig deeper into their economic moats, steer their strategies in a changing environment, and treat shareholders' wealth as if it were their own.
Of course, “greatness” here doesn’t necessarily mean a genius founder.
Even if you're not the founder, if you have a trustworthy, professional manager who treats shareholders' interests as if they were your own and faithfully represents them, the value of your company will steadily grow.
--- p.100

The quality trap refers to a situation where a company's past performance and current moat are undoubtedly excellent, but growth has already stagnated and future expected returns are low. However, investors who invest based on the reputation of a "quality company" end up underperforming the market over the long term or incurring significant opportunity costs.
--- p.111

I constantly check whether my trust in the financial moat and management of the companies I've invested in still holds true today, and I only continue to partner with them as long as that trust holds.
Only when that active partnership continues for 10 or 20 years will the glorious results of what the world calls a "great long-term investment" follow.
Don't let my mistakes go unnoticed in the name of long-term investing.
Long-term investing is not about patience, but about building confidence every day.

--- p.141