Imperial Brands: Great Value At 9x Forward Earnings, With 5% Yield Backed By Strong FCF

Core Viewpoint - The article emphasizes the importance of identifying companies with durable competitive advantages and strong balance sheets, and suggests that shares should be purchased when they are available at irrational prices in the market [1]. Group 1 - The focus is on finding great companies that possess sustainable competitive advantages [1]. - Strong balance sheets are highlighted as a critical factor in evaluating potential investments [1]. - The strategy involves buying shares when they are undervalued or offered at irrational prices [1].