Summary:The September Effect, referring to the historically weak stock market returns observed during the month, once again proved statistically significant. During volatile periods in the market, oftentimes, investors will look to seek shelter in companies that exhibit a quality factor tilt with the expectation that they will prove more resilient. Changes to a company’s moat rating are not a common event. The competitive advantages required to obtain a wide moat rating within Morningstar’s framework are difficult to obtain and durable in nature.
Moat Investing: Don't Ignore Valuations
