Scalable businesses - Identifying the next multi-bagger 

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Rajeev Thakkar talks about Scalable businesses - Identifying the next multi-bagger
The presentation can be downloaded here for your reference.
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It is always a debate whether to buy a business with high growth or a business with high growth at cheap value. As per Buffet buying a value business will include intrinsic growth as the company would have a margin of safety and much below the intrinsic value.
This means that in the process of value investing, a business that an investor does consider buying will factor in growh. It is often a challenge to identify high growth businesses' but at times it is apparent when there is a paradigm shift occuring.
Take for example, a digital cameras vs old fashioned cameras with rolls.
There was a paradigm shift and it was evident that Kodak would run out of marketshare and profits unless it innovated. Digital cameras became a scalable business. The point is that one can identify trends which supersede government policy as well as other macro factors and one looks at sheer business model and Buffet's checklist, it is possible to identify business which may grow multi-fold over a few years.
To conclude, it is always hard to find a business with high growth and scabable business at a cheap price. One should be aware of trends, paradigm shifts and changes in business enviornment and follow the Buffet checklist.