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19 Good Companies With Bad Stewardship

These firms all have wide and narrow economic moats but earn poor stewardship ratings.

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Life is filled with incongruities. We have, for instance, jumbo shrimp. Working vacations. Old news. Friendly takeovers.

Along those same lines in investing, we have what Morningstar would dub good companies with bad stewardship. These are companies that have carved out significant advantages (or economic moats) and are therefore quite likely to withstand the slings and arrows from competitors, but they've built those moats in spite of what we consider to be poor management.

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Susan Dziubinski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.