Why Moats Matter - The Morningstar Approach to Stock Investing

very good book

I am thankful to the authors of this book. It explains the concept of moat. It provides a number of examples across about 8 industries. It is the first time I found that many examples in one investment book. It does provoke a lot of thinking about business and investing.

Gives a structured and guiding questions to how firms derive their economic moat.

I have only read the criticisms of this book since both reading it, and listening to the audio-book. On the whole, I liked it. There is much to recommend it to beginning investors and those looking to follow the "value" approach. The examples cover most sectors in enough detail to allow investors to detect for themselves the likely presence of a wide or narrow moat - or more importantly, none at all. The sources of moats are covered well-enough too. There is a need to be skeptical of any investment advice you receive but I think the title makes it clear enough - no-one should read this thinking it is anything other what is described in the title. And if it is a plug for their services, that's okay too, because you shouldn't forget you can get a lot of Morningstar info for free. I found that this book distills and concentrates the knowledge used in the Morningstar approach to allow readers to accept or reject their moat ratings - as always, you are best advised to make up your own mind, and do your own research beforehand anyway. Oh, and if you want to know why Morningstar and Buffet love JnJ, here's your answer...

Very good book for investors.

Great work again morningstar!A book just about industries is missing in your bookcollection. Maybe written by Matt Coffinaand Jeremy Glaser? You guys should write more books ;)