02.11.2020 - By NAB
When searching for businesses that can generate excess returns on a sustainable basis, the concept of a moat can be invaluable. How wide is the barrier between you and your competitors, and can it be maintained?
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In this engaging and entertaining conversation, Morningstar equity analyst Matt Hodge covers:
The five key characteristics of a valuable moat
Stock picks that offer the most attractive moats for each characteristic
Why he thinks Afterpay has no moat to defend, and
Why ‘when a bad business and a great manager meet, it’s usually the bad business that wins’.
You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean, Spotify or at nabtrade.com.au/yourwealth
If you’re short on time, consider listening at 1.5-2x speed, which should be shown on the screen of your device as you listen. This won’t just reduce your listening time; it has also been shown to improve knowledge retention.