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The 5 Sources of Moat

Morningstar's Paul Larson breaks down the five ways firms can keep competitors at bay and which ways are more durable over time.

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Editor's Note: Since the filming of this video, Morningstar equity analyst Matthew Coffina was named editor of Morningstar StockInvestor.

Jeremy Glaser: For Morningstar, I am Jeremy Glaser. Finding long-term competitive advantages, or economic moats, has long been a cornerstone of our equity research process. I'm here today with chief equity strategist Paul Larson to see what the sources of these moats are and to hear some new insights that he has on them.

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