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Finding a Margin of Safety in a Fully Valued Market

These three wide-moat firms are trading at reasonable prices in a market with little breathing room in valuations.

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Note: This article is part of Morningstar.com's November 2014 Risk Management Week special report.

Investing in the stock market is an inherently risky endeavor. Morningstar StockInvestor editor Matt Coffina has identified 12 sources of risk in a stock portfolio, and that's really just the tip of the iceberg. Business risk, macroeconomic risk, regulatory risk, valuation risk, currency risk, and much more may send the risk-averse running for the closest bank CD. 

Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.