One day you find a company with a great management, has legendary and renown brand, less-fierce competition landscape, near perfect corporate governance and attractive valuation yet the demand of the product is in secular stagnant or decline state such as [%PCru%]. 

Another day you find a company such as [%EklD%] or [%jExR%] in a secular growth sector, attractive valuation and decent ROE yet the sector is glutted by competition it turns positive growth into negative and healthy margin into sub-par margin.

One day you find a company with a great management, has legendary and renown brand, less-fierce competition landscape, near perfect corporate governance and attractive valuation yet the demand of the product is in secular stagnant or decline state such as $MLBI. 

Another day you find a company such as $PRDA or $ACES in a secular growth sector, attractive valuation and decent ROE yet the sector is glutted by competition it turns positive growth into negative and healthy margin into sub-par margin.