00791nam0-2200277 --450 991022824290332120171201093512.020171201d196-----km y0itay50 baitagerITa 001yyCase con atrioPaulhans Peterstraduzione [di] Giovanni Emilio Buzzelli con la collaborazione [di] Silvano CasiniBolognaCELI[196 ]102 p.ill.27 cmCortili721.04220Peters,Paulhans11587Casini,SilvanoBuzzelli,EmilioITUNINAREICATUNIMARCBK9910228242903321II 571166DINEDDINEDCase con atrio1533484UNINA05151nam 2200589 450 991046461800332120200520144314.01-118-76099-91-118-76102-2(CKB)3710000000149578(EBL)1753374(MiAaPQ)EBC1753374(Au-PeEL)EBL1753374(CaPaEBR)ebr10887741(CaONFJC)MIL632031(OCoLC)878953842(EXLCZ)99371000000014957820140708h20142014 uy 0engurcnu||||||||rdacontentrdamediardacarrierWhy moats matter the Morningstar approach to stock investing /Heather Brilliant, Elizabeth Collins ; illustration, Christopher CantoreHoboken, New Jersey :Wiley,2014.©20141 online resource (243 p.)Includes index.1-118-76023-9 Why Moats Matter: The Morningstar Approach to Stock Investing; Copyright; Contents; Preface; Acknowledgments; Chapter 1: Guiding Principles of Morningstar's Equity Research; Question 1: How Can We Identify Which Businesses Are Great?; Moats; Moats and Value Creation; Moats in Action; Moat Sources; Assigning Moat Ratings; Question 2: When Is the Best Time to Invest in Great Businesses?; The Importance of Valuation; Estimating Fair Value; Margin of Safety; Chapter 2: What Makes a Moat?; Moat Sources; Intangible Assets; Cost Advantage; Switching Costs; Network Effect; Efficient Scale; NotesChapter 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; Investment Strategy and Valuation; Execution; Financial Leverage; Dividend and Share-Buyback Policies; Compensation; Related-Party Transactions; Accounting Practices; Management Backgrounds; Health, Safety, and Environment; Ownership Structure; Stakeholder FocusCommunication With Shareholders Stewardship Ratings by Moat and Sector; Basic Materials; Consumer; Energy; Financial Services; Healthcare; Industrials; Technology; Utilities; 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 RatingTM 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; Stock Investor's Stock Selection Criteria; Portfolio Management Strategy; Summing Up; 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 ServicesChapter 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 UtilitiesIndependent Power ProducersIncorporate economic moat analysis for profitable investing Why Moats Matter is a comprehensive guide to finding great companies with economic moats, or competitive advantages. This book explains the investment approach used by Morningstar, Inc., and includes a free trial to Morningstar's Research. Economic moats-or sustainable competitive advantages-protect companies from competitors. Legendary investor Warren Buffett devised the economic moat concept. Morningstar has made it the foundation of a successful stock-investing philosophy. Morningstar views investing in the most fundamental sense:StocksInvestment analysisElectronic books.Stocks.Investment analysis.332.63/22Brilliant Heather864081Collins ElizabethCantore ChristopherMiAaPQMiAaPQMiAaPQBOOK9910464618003321Why moats matter1928712UNINA