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50 Companies to Buy and Hold

High customer switching costs give these companies an advantage.

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What makes a company great? It's simple: a moat around its core business.

The Bellwether 50 is a watch list of companies we track in Morningstar’s monthly newsletter, Morningstar StockInvestor. The list includes 50 companies with large competitive advantages, or what Warren Buffett calls "economic moats." In StockInvestor, we've broken these down into four main categories of economic moat:

1. Low-cost provider
2. High customer switching costs
3. Intangible assets
4. The network effect

Mark Sellers does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.