In this final excerpt from their new book, Morningstar's Heather Brilliant and Elizabeth Collins examine how companies can build competitive advantages around network effect and scale efficiency.
In this second excerpt from their new book, Morningstar's Heather Brilliant and Elizabeth Collins detail how companies leverage cost advantage and switching costs to their benefit.
In an excerpt from their new book, Morningstar's Heather Brilliant and Elizabeth Collins explore how to identify a moat and how intangible assets can help a firm carve out a sustainable competitive advantage.
Companies with fortified moats can stave off competition and tend to have better risk-adjusted returns than the broader market.
Following is a roundup of stocks that recently jumped to 5 stars. By way of background, we award a stock 5 stars when it trades at a suitably large discount--i.e., a margin of safety--to our fair value estimate. Thus, when a stock hits 5-star territory, we consider it an especially compelling ...
Morningstar's Heather Brilliant explains why investors should care about movement in market and sector correlations.
Morningstar's Heather Brilliant says better revenue opportunities exist in the U.S. now than in foreign markets, and investors should demand discounts for firms with large non-U.S. sales footprints.
A lot of companies are very well positioned regardless of how the fiscal cliff gets resolved, as long as it gets resolved, says Morningstar's Heather Brilliant .
But even foreign-domiciled stocks can offer U.S. exposure, says Morningstar's Heather Brilliant .
Unless a company reports quarterly results that stray wildly from expectations, it's best to keep a long-term view on a stock, according to Morningstar's Heather Brilliant .