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The key to "British Buffett" outperforming Buffett in 13 years: three steps of high-quality investment

"As you already know, we have a simple three-step investment strategy: the first step is to buy only good companies; the second step is not to buy too expensively; the third step is to stay put. Below I will review our implementation of each step in turn."

I know you may be laughing while reading: three steps, this is too simple.

"Tao Te Ching" wrote: "The lower class hears the truth and laughs loudly. If they don't laugh, they are not good enough to be the truth." Buffett has a famous saying: "Looking simple does not mean it is easy to do."

Go to bed early and get up early, control your mouth and move your legs. Simple, right? Have you done it for a long time?

Since British Smith's performance has outperformed Buffett in the past 13 years, it is worth learning and studying. How did he do these three steps? Compared with Buffett, what are the similarities and differences? What is the biggest feature?