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| Courses '300' | |
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| 301: The Income Statement | |
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| 302: The Balance Sheet | |
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| 303: The Statement of Cash Flows | |
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| 304: Interpreting the Numbers | |
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| 305: Quantifying Competitive Advantages | |
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| Course 205: Economic Moats | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Bottom Line | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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While having these four types of moats, or competitive advantages, as guidelines is helpful, there is still a lot of art to determining whether a firm has a moat. At the heart of it, the harder it is for a firm's advantage to be imitated, the more likely it is to have a barrier to entry in its industry and a defensible source of profit. Next: The Quiz >> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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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