Three Great Lessons of Income Investing

Charlie Munger has his famous three laws of investing:

In this spirit, I offer my Three Great Lessons for Income Investors:

1. A great business with a fair yield is superior to a fair business with a great yield
2. A great business with a fair yield is superior to a fair business with a great yield
3. A great business with a fair yield is superior to a fair business with a great yield

Where to find these businesses? Here are some analytical tools to get started.