High Quality + High Yield + Growth of Yield  = High Total Returns

Miller explains that a high quality company is one that carries only a small amount of debt, has strong cash flow, honest and transparent managment, has a record of financial success, even under difficult economic conditions, and is operating in a business that provides essential products to consumers or important industries, such as agriculture. ​

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In a particularly useful chapter, Miller uses sample pages from Value Line Investor Survey reports, to illlustrate exactly how he uses these reports to find companies that meet the criteria as "Single Best Investments". This chapter alone is worth the time spent reading this book.

Miller points out that it is important for investors to be patient and hold their positions in these high quality companies, as long as their future prospects remain promising. That is, treat your shares the same way you would treat a real estate rental property. The price of the property may fluctuate over the years, however as long the rental rates remain stable and increase at regular intervals, you would not consider selling the property. Similarly has long as a company's dividends remain stable and continue to grow steadily, you should not consider selling your shares. However, if the dividend fails to grow for several consecutive years, or is cut, then you should seriously consider selling your position in the company. 

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This is a book that you will often refer to and re-read about once a year. ​​​

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