Morningstar Moat Investing Philosophy: Combining Quality and Valuation

Dan Lefkovitz, Content Strategist, Morningstar, elaborates on the Morningstar moat philosophy and how it attempts to evaluate equities based on quality and valuation. “We have identified five different sources of economic moats: intangible assets, switching costs, network effect, cost advantage, and efficient scale. We have taken the metaphor coined by Buffett and turned it into a robust equity research methodology.”

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