Quality

The recent market turmoil is seeing some quality companies punished with the rest. This looks like a good opportunity to pick up some top quality shares on the cheap. Over the next couple of months I will have plenty of cash available to invest. At the moment I'm drawing up a shortlist of shares to consider.

In general I'm looking for Buffett-type shares that I can hold for the extreme long term. What I want is:
- Plenty of free cash flow
- Strong potential for organic earnings growth (i.e. not requiring investment)
- A wide moat protecting them from competition
- Large profit margin
- Stable, growing revenue
- Limited debt
- Not excessive P/E ratio
- A reasonable dividend yield

So far I'm looking at:
- Diageo at around 800p
- Tesco at around 300p
- GlaxoSmithKline at around 1000p