Following my coverage on Ashtead Group ( ASHTF ), for which I recommended a hold rating as the near-term growth acceleration potential was limited, albeit the long-term outlook was still very healthy, this post is to provide an update on myI take a fundamentals-based approach to value investing.I disagree with the common misconception held by many investors that low multiple stocks must be cheap. I look for companies that offer the best long-term durability at the most affordable prices. Consequently, I hav ...