Economic Moats

[yeokiwi]

Finding economic moats is a critical process in value investing.

Consider the following briefs:

1) Nature of business
2) Low debt
3) Good management
4) Innovation
5) Known products which sell well (include Branding)
6) Barriers to entry
7) Investment in capex and R&D
8) Business focus

Can business cycles be consider? such as properties play, shipping, etc.
Is the above order of importance correct or Good Management should comes first above all?

Appreciate all comments.

Most of my shares in my portfolio have no moat and probably the most important criteria for me is good management. But, if the PE is low or NTA is low as compare with market value, I am willing to accept a mediocre management.

Other than that, I hardly look out for
innovation(I accept dumb businesses)
business focus(if they can make money in other areas, why not)
low debt(property companies, construction companies, distributors use lots of debt)
Known products which sell well(well, if they sell enough to make a good profit, even they are second, third or even no. 10 in the product list, i am ok..)
Barriers to entry(hard to find at acceptable share price, all are selling at high PE)
Investment in capex and R&D(can earn money can liao, no R&D is also ok)

In other word, I accept anything that can give me a reasonable return at the point of purchase(10% per annum??)