In the end, a minority shareholder can only win two things:
Growth and/or Dividends.
And that leads to another confusion, which is to seek these things, when in fact, they are a consequence.
So what you should look for:
Companies that profit and generate cash efficiently.
Companies that control cash and debt appropriately.
Companies with good management and good governance.
The companies that have the data above will produce money efficiently will generate a surplus of cash.
With this surplus, if the company has good management, it will:
Investing in your own company = company growth.
Buying other companies = company growth.
Paying Debts = growth and/or dividends.
Repurchase shares = growth and/or dividends.
Distribute profits = dividends.
So it's very simple:
1 - See if the company is good (the three items above).
2 - See if the company returns to the shareholder = Growth and/or dividends, but if 1 is true, 2 is true.
Simple, stop complicating.
