Economic moats - A recipe for long-term outperformance
/“In business, I look for economic castles protected by unbreachable ‘moats’.” - Warren Buffett
The greatest investor of all time - Warren Buffett -breaks down his investment criteria into the following four areas:
1. Circle of competence
2. Great long-term prospects
3. Competent management
4. A fair price
This text deals with the second point but also touches upon the third. In order for a business to have…