Look for companies with a durable competitive advantage from "summary" of Buffettology by Mary Buffett,David Clark
When selecting investments, it is crucial to seek out companies that possess a durable competitive advantage. This advantage allows a company to maintain its profitability and market position over the long term, despite challenges from competitors. A durable competitive advantage acts as a protective moat around a company, safeguarding its business from external threats and ensuring its continued success. Companies with a durable competitive advantage have unique qualities that set them apart from their competitors. These qualities can come in the form of brand recognition, patented technology, economies of scale, or exclusive distribution networks. By possessing these unique qualities, companies can attract and retain customers, generate consistent profits, and sustain their competitive edge in the market. Investing in companies...
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