Jacob Mitchell, Chief Investment Officer at Antipodes Partners, says it's more than just the quality of the business that drives investor returns, it's also about the price you pay to invest. "Your returns from the investment, as opposed to your returns from the business, rely on the starting value." Mitchell says his team looks for leading businesses with characteristics such as steady profitability, good opportunities for growth, and high barriers to entry. To protect investor's capital, they look for opportunities with multiple ways of winning. "If we get a value opportunity, which is underwritten by the multiple ways that we can win, if we're wrong on something we're not exposed to a single point of failure." In the video and transcript below, he explains some of the qualities of a great investment, using Samsung as a case study.