Log In
Or create an account ->
Imperial Library
Home
About
News
Upload
Forum
Help
Login/SignUp
Index
Cover
Contents
Title
Copyright
Dedication
Preface
Acknowledgments
Chapter 1: Guiding Principles of Morningstar’s Equity Research
Question 1: How Can We Identify Which Businesses Are Great?
Question 2: When Is the Best Time to Invest in Great Businesses?
Chapter 2: What Makes a Moat?
Moat Sources
Notes
Chapter 3: Why Moat Trends Matter
Moat Trends and Fundamental Performance
Five Key Considerations for Moat Trends
Intangibles
Cost Advantage
Switching Costs
Network Effect
Efficient Scale
Best Practices for Moat Trend Analysis
Chapter 4: How Stewardship Affects Economic Moats
Meet Our Stewardship Methodology
Drilling Down
Chapter 5: Applying Moats to Dividend Investing
Why Dividends Matter
Which Dividends?
Chapter 6: The Importance of Valuation
Valuation Concepts
Cost of Capital and Returns on Capital
Morningstar’s Valuation Approach
Example: Calculating ROIC
Forecasting Future Free Cash Flows
The Morningstar Rating™ for Stocks
Fair Value Uncertainty and Cost of Equity
Notes
Chapter 7: Do Moat Ratings Predict Stock Returns?
Chapter 8: Putting Moat and Valuation to Work: Portfolio Strategies
Wide Moat Focus Index
The Tortoise and Hare Portfolios
Chapter 9: Basic Materials
Commodity Manufacturers
Commodity Processors
Metals and Mining
Chapter 10: Consumer
Beverages
Consumer Products
Tobacco
Restaurants
Retail Defensive
Specialty Retail
Lodging
Notes
Chapter 11: Energy
Oil and Gas Drilling
Oil and Gas Exploration and Production
Oil and Gas Midstream
Refining
Oil and Gas Integrateds
Engineering Services
Chapter 12: Financial Services
Banks
Capital Markets
Credit Services
Financial Exchanges
Insurance
Chapter 13: Healthcare
Pharmaceuticals
Biotechnology
Medical Devices
Medical Instruments and Supplies
Diagnostics and Research
Chapter 14: Industrials
Railroads
Airport Operators
Aerospace and Defense
Trucking and Marine Shipping
Waste Management
Heavy Equipment
Diversified Industrials
Chapter 15: Technology
Consumer Technology
Enterprise Hardware Systems
IT Services
Semiconductors
Software
Telecom Services
Chapter 16: Utilities
Regulated and Diversified Utilities
Independent Power Producers
About the Authors
Index
End User License Agreement
← Prev
Back
Next →
← Prev
Back
Next →