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The term moat was first coined by billionaire investor Warren Buffett in November 1999 when he was describing why he was sticking with mundane companies that dominated their markets rather than jumping into the red hot technology sector. The products or services that have wide, sustainable moats around them are the ones that deliver rewards to investors, he wrote in an editorial to Fortune at the time. Within a year after making this comment, many of the tech stars had crashed and burned while his moat stocks remained resilient. Morningstar assigns moat ratings on every stock it tracks whether its wide, narrow or no moat at all. A wide moat company holds the biggest competitive advantage: Often the company holds a monopoly on a particular product or service because of its large size, patents, pricing or popularity. Also, demand for a wide moat companys product often remains stable in good economic times or bad, and theres little concern that some new player will topple it with a better mousetrap.


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1. People learn in different ways some prefer to read, while some prefer to watch. Here's how Craig Stoss, Technical Support Manager at Vidyard, explains the benefits of using video content in your knowledge base:"A video enabled knowledge base allows you to reach a wider audience while reducing confusion of complex steps. Video allows you to bridge language barriers, knowledge/skill level barriers, as well as some accessibility barriers. By describing visually, and verbally the actions you wish your users to take, you enable a wider set of your users to be successful. Difficult steps can be shown in place of complicated diagrams, or large lists of written steps.



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No one can doubt that Congress and the President are confronted with fiscal and economic problems of unprecedented magnitude, but"the fact that a given law or procedure is efficient, convenient, and useful in facilitating functions of government, standing alone, will not save it if it is contrary to the Constitution. Convenience and efficiency are not the primary objectives or the hallmarks of democratic government. Accordingly, the judgment and order of the District Court are affirmed. Together with No 85 1378, United States Senate v. Synar, Member of Congress. et al. , and No. 85 1379, O'Neill, Speaker of the United States House of Representatives, et al v.



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