- Moats are and will always be elusive as there is no computer algorithm or rule to help us in finding them.
- Analysis of economies of scale, competition, and margins can help, but we’ll discuss some examples where common sense is what wins out.
- Moats exist in the technology sector and aren’t that difficult to spot.
Warren Buffett’s most commonly referenced piece of advice is to buy a good business with a large moat at a fair price and hold it forever. This is easier said than done as in today’s complex world, moats become stronger and weaker at the same time. More →