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by Pat Dorsey
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All highly profitable firms attract competitors, and only firms that are able to keep competition at bay will earn above-average profits for an extended period of time. An economic moat - or competitive advantage - allows a company to fend off competitors and earn sustainable excess economic profits.
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by Pat Dorsey
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Over the years, people from around the world have turned to Morningstar for strong, independent, and reliable advice....
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