In The Little Book That Builds Wealth, author Pat Dorsey - the Director of Equity Research for leading independent investment research provider Morningstar, Inc. - reveals why competitive advantages, or economic moats, are such strong indicators of great long-term investments and examines four of their most common sources: intangible assets, cost advantages, customer-switching costs, and network economics. Along the way, he skillfully outlines this proven approach and reveals how you can effectively apply it to your own investment endeavors.
In The Little Book That Builds Wealth, author Pat Dorsey - the Director of Equity Research for leading independent investment research provider Morningstar, Inc. - reveals why competitive advantages, or economic moats, are such strong indicators of great long-term investments and examines four of their most common sources: intangible assets, cost advantages, customer-switching costs, and network economics. Along the way, he skillfully outlines this proven approach and reveals how you can effectively apply it to your own investment endeavors.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
Pat Dorsey, CFA, is Director of Equity Research at Morningstar, Inc. He played an integral part in the development of the Morningstar Rating for stocks, as well as Morningstar's economic moat ratings. Dorsey is also the author of The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market (Wiley). He holds a master's degree in political science from Northwestern University and a bachelor's degree in government from Wesleyan University. Please visit www.findingmoats.com.
Inhaltsangabe
Foreword xi Acknowledgments xvii Introduction The Game Plan 1 Chapter One Economic Moats 7 Chapter Two Mistaken Moats 15 Chapter Three Intangible Assets 29 Chapter Four Switching Costs 43 Chapter Five The Network Effect 57 Chapter Six Cost Advantages 75 Chapter Seven The Size Advantage 91 Chapter Eight Eroding Moats 103 Chapter Nine Finding Moats 115 Chapter Ten The Big Boss 133 Chapter Eleven Where the Rubber Meets the Road 143 Chapter Twelve What's a Moat Worth? 159 Chapter Thirteen Tools for Valuation 171 Chapter Fourteen When to Sell 187 Conclusion More than Numbers 197
Foreword xi Acknowledgments xvii Introduction The Game Plan 1 Chapter One Economic Moats 7 Chapter Two Mistaken Moats 15 Chapter Three Intangible Assets 29 Chapter Four Switching Costs 43 Chapter Five The Network Effect 57 Chapter Six Cost Advantages 75 Chapter Seven The Size Advantage 91 Chapter Eight Eroding Moats 103 Chapter Nine Finding Moats 115 Chapter Ten The Big Boss 133 Chapter Eleven Where the Rubber Meets the Road 143 Chapter Twelve What's a Moat Worth? 159 Chapter Thirteen Tools for Valuation 171 Chapter Fourteen When to Sell 187 Conclusion More than Numbers 197
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"A detailed exploration of Warren Buffet's "wide economic moat" concept - how to find companies with a true in-built competitive advantage." (Financial Times, Tues 26th February)
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