We believe companies with moats from switching costs and intangible assets are less vulnerable.
Financial transactions are the most obvious application, but there are other opportunities as well.
The technology has plenty of potential, but there are still obstacles to world domination.
Though we think the wide-moat bank's competitive advantages are intact, further changes may be needed to catalyze a comeback in the eyes of investors.
The narrow-moat firm's purchase of iZettle is reasonably priced, and we like that Paypal is funding the deal with its richly priced stock.
The wide-moat firm's high growth and minimal reinvestment are alluring, but shares are rich.
The primary financial impact of the recently announced $1 billion penalty will come from reputational damage, as negative headlines still dog the bank's brand.
We are raising our fair value estimate for the narrow-moat firm.
We're not changing our fair value estimate for the narrow-moat firm.