The Little Book That Builds Wealth: Morningstar's Knock-O...
Dorsey, Pat / Blane, Steve All highly profitable firms attract competitors, and only firms that are able to keep competition at bay will earn above-average profits for an extended period of time. An economic moat - or competitive advantage - allows a company to fend off competitors and earn sustainable excess economic profits. In The Little Book That Builds Wealth, Pat Dorsey, the head of Morningstar's equity research team, outlines an effective approach to investing th...