In this Investor Bootcamp episode on The Australian Investors Podcast, Owen Rask dives deep into competitive advantages, otherwise known as "moats".Topics covered include: What is a moat? Morningstar's 5 moat ratings: Network effects Efficient scale Intangible assets Cost advantage Switching costs Where wide, narrow and no moat companies are found How moats are measured (ROIC - WACC) Why the airline industry sucks... capital away from investors How dominant wide-moat companies like Microsoft or Xero can grow more powerful as they grow Some of companies mentioned include: Xero Limited (ASX: XRO) Microsoft Corp (NASDAQ: MSFT) Qantas Airways (ASX: QAN) Virgin Airways Flight Centre Travel Management Ltd (ASX: FLT) Woolworths Ltd (ASX: WOW) Coles Group (ASX: COL) APA Group (pipeline operator) Download Owen's Investor Bootcamp training manual: https://bit.ly/rask-analystResources: Please see the investor bootcamp for images & graphics Book: Gorilla Game: Investing in High Techonology Books from Porter: Competitive Strategy (1980), Competitive Advantage (1985) and Harvard Business Review’s 10 Must Reads – On Strategy David Gardner Snap Test Owen's Value Investor Program Which tools are your favourite? Let us know:Owen’s Twitter: https://twitter.com/owenraskWatch the video version on the Rask Australia YouTube page.Take Owen’s brand new Value Investor Program, which gives you all the tools and knowledge you need to invest successfully in companies, including valuation spreadsheets, investing checklists and ASX company case studies. Get $100 off at checkout using the code: VALUEINVESTOR.Join The Intelligent Investor & saveThis podcast is brought to you by The Intelligent Investor, Australia's premier investment research membership service. Use the code "RASK", to get $100 off your annual membership or get a free 15-day trial (no credit card details required):📈 Click here for a free 15-day trial💸 Click here to join today ($100 off)If you want to thank us for putting this show together, please give The Australian Investors Podcast a 5-star review on Apple Podcasts or Spotify - it’s a 5-second task that really helps support the show (and puts a big smile on Owen's face).DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsgDate recorded: 13th of May 2022 Learn more about your ad choices. Visit megaphone.fm/adchoices