Learning How to Identify High-Quality Businesses with Durable Competitive Advantages is a Skill One Should Develop. Investing in high-quality businesses with durable competitive advantages—or “economic moats”—is one of the most reliable strategies for building wealth over the long term. These companies have characteristics that protect them from competitors, allowing them to…
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Understanding the Economic Moat and How to Identify Them
When it comes to long-term investing, few concepts are more important than the idea of an “economic moat,” a term popularized by renowned investor Warren Buffett. The concept of a moat originates from medieval castles, where moats were used to protect the castle from attackers. In a business context, an…