Buffett looks for companies with a durable competitive advantage from "summary" of The Warren Buffett Portfolio by Robert G. Hagstrom
One of the key principles Warren Buffett follows when selecting stocks for his portfolio is to seek out companies that possess a durable competitive advantage. This means that he looks for businesses that have a strong and enduring position in their respective industries, allowing them to outperform their competitors consistently over the long term. Buffett believes that companies with a sustainable competitive edge are more likely to generate consistent profits and deliver superior returns to their shareholders. A durable competitive advantage can take many forms, such as brand recognition, economies of scale, proprietary technology, or regulatory advantages. These advantages create barriers to entry that make it difficult for competitors to replicate the company's success. By investing in companies with a durable competitive advantage, Buffett is essentially betting on the long-term success of these businesses and their ability to maintain their market dominance in the fa...
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