So, in the earlier part of we spoke about the circle of competence and we also looked at how to use various screeners to narrow down the list of the stocks for further research. Now, these are two important concepts because, understand, that there are around 2,800 companies listed in the Indian stock markets. If you belong to the US market, then there will be around 27,000 companies listed. So, it's humanly impossible to research every company. So by using a circle of competence concept and ways to screen stocks, you will bring that huge list to a more manageable number. Now let’s say that you have identified around 10 industries that you would like to do further research and let’s say that in every industry there are around 10 to 12 companies. Then, that still will leave you with around 100 and 120 companies. Now the problem in front of you is how to know which company is good and which company is bad. In this lesson, that is what we are going to talk about. We are going to talk about how to segregate businesses from gruesome to great. So listen on. Happy investing.