Three quality stocks going cheap

Professional stock picker Ian Lance looks for companies that generate lots of cash - and use that cash wisely. Here, he tips three high-quality stocks available at low valuations.

Each week, a professional investor tells MoneyWeek where he'd put his money now. This week: Ian Lance, portfolio manager, RWC Partners.

We look for high-quality businesses, which are soundly financed, have a history of making good returns on assets, generate lots of cash and use that cash wisely. We recognise, however, that paying too much for a quality business does not generate good returns. Hence we look to buy decent businesses only when they are lowly valued in relation to the cash they generate. With this in mind, here are three businesses that we believe meet all our quality criteria, but are available at low valuations.

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