Sunday, January 25, 2009

Economic Moats and Corporate Stewardship Matter in Stock Returns


Pat Dorsey of Morningstar discusses economic moats and corporate stewardship in a recent video (http://www.morningstar.com/cover/videocenter.html?bctid=8901648001&lineup=stocks).


Morningstar research shows equity returns in 2008 (and for the past 3 and 5 years) for stocks with wider Morningstar Economic Moat ratings and higher Stewardship Grades had higher returns. Economic moats and corporate stewardship are topics that we are currently discussing in the AIM courses (FINA 191, 193, and 194).

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