Economic Moats

They can generate high returns, under the right conditions, but their best feature is safety.

These funds tend to hold up better than the market in a recession.

With valuations coming down, wide-moat stocks may be in a better position for a period of rising rates and inflation.

Undervalued high-quality stocks may be just the ticket in a choppy market.

Do any of this year’s top performers have gas left in the tank for 2022?

We expect consumers to begin spending more on experiences, such as travel.

Profits cooled in the period, as supply chain disruptions and inflationary headwinds took a toll.

We do not expect this to significantly affect our fair value estimate or moat rating for the firm.

We are maintaining our fair value estimate for narrow-moat Apple following its annual product showcase.

The company left its larger financial targets in place. Our fair value estimate and narrow moat rating are unchanged.

These wide-moat firms all earn Exemplary capital allocation ratings and trade in the 4- and 5-star range.

Strong investment performance and operating results leave the conglomerate well positioned.

A regulatory crackdown has left some big names at cheap prices.

These narrow-moat names are all up twice as much as the market this year, yet remain undervalued by our metrics.

Here's a peek at the cheapest constituents of the Morningstar Wide Moat Focus Index--as well as names that have been added and cut.

These narrow-moat firms have positive moat trends and are run by exemplary stewards of capital.

An overview of our recent report that looks at the relationship between ESG risk and moat ratings and, using back-testing, how portfolios based on the two ratings might have performed.

Here's how our approach to investing can inform your stock-picking process.