Group 1 - The focus is on identifying businesses with strong cash generation capabilities and competitive advantages that are likely to endure for the next decade [1] - The target annualized return is set at a minimum of 15 percent, with an interest in companies that are deeply discounted from their asset base if they are highly marketable [1] - The approach includes considering takeover targets, provided they maintain a strong business model that is desirable even if the acquisition does not proceed [1] Group 2 - The individual has achieved an annualized time-weighted return of approximately 16 percent over three years of independent investing [1]

Core Insights - The article discusses the inclusion of Alphabet (GOOGL, GOOG) in the author's coverage universe, emphasizing the company's strong cash-generating ability and competitive advantage, which are essential for long-term investment [1] - The author aims for investments that can achieve at least 15 percent annualized returns or are deeply discounted from their asset base, indicating a focus on value investing [1] - The author has achieved an annualized time-weighted return of approximately 16 percent over three years, reflecting a successful investment strategy [1] Company Analysis - Alphabet is recognized for its strong cash generation and competitive positioning, making it a suitable candidate for long-term investment [1] - The author is open to considering takeover targets, provided they maintain a strong business model that would be acceptable to own independently [1]