There’s a lot to like about Nintendo, but ultimately we own the stock for one fundamental reason:  its “goldplated” IP portfolio.  Nintendo’s astonishingly lengthy roster of “triple-A” videogame franchises represents a formidable moat that keeps would-be rivals from eating away at the big N’s market share and profits.  And this is one moat that’s likely to last.  After all, no matter how much technological progress other videogame companies make, and no matter how efficiently they run their operations, they will never have Mario, Pikachu, Link, Kirby, Samus, Donkey Kong, or any of Nintendo’s dozens of other widely beloved characters.  Nor will they have the best-selling, industry-leading videogames those characters star in.