In 1999, 📝Warren Buffett coined a phrase during an interview that became an “aha moment” for investors. He said, “The products or services that have wide, sustainable moats around them are the ones that deliver rewards to investors.” In other words having a product or service which is hard for new entrants to replicate is highly valuable in the long run.
The term was introduced to me by 📝Nick Barone.
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References
- What Is A Data Moat, intricity.com