highly profitable firms attract competitors, and only firms that are able to
keep competition at bay will earn above-average profits for an extended period
of time. An economic moat—or competitive advantage—allows a company to fend
off competitors and earn sustainable excess economic profits.
In The Little Book That Builds Wealth, Pat Dorsey, the head of
Morningstar's equity research team, outlines an effective approach to investing
that includes economic moats and tells you how to apply this strategy to your
own investment endeavors.
Divided into six comprehensive parts, this reliable resource
guides you step by step down the path to understanding and discovering what an
economic moat is, how to measure it against other moats, and how to best select
a company using this method. While the moat concept is not a new one—it was
made famous by Benjamin Graham and Warren Buffett—Dorsey discusses how the
modern-day investor can use this strategy to select companies that possess a
wide moat and feature good growth fundamentals as well as an attractive stock price.
With this audiobook as your guide, you will discover why moats
should be an integral part of your analytical investment toolkit and learn how
to leverage this approach to build a portfolio of high-performance stocks.
Download and start listening now!