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| Course 109: Finding Economic Moats | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| About Economic Moats | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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What separates a bad company from a good one? Or a good company from a great one? In large part, it's the size of the "economic moat," or competitive barrier, a company builds around itself. In general, the greater the competitive positioning, the greater the shareholder value companies are able to create. We've identified four main types of economic moats:
1. High customer switching costs 2. Economies of scale 3. Intangible assets 4. The network effect Next: High Customer Switching Costs >> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Learn how to invest like a pro with Morningstar’s Investment Workbooks (John Wiley & Sons, 2004, 2005), available at online bookstores. | ||
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