In the 1995 annual meeting of Berkshire Hathaway (NYSE: BRK.B), Warren Buffett introduced the concept of a “moat” as the fundamental rule of economics in the firm’s investment strategy. Warren Buffett explained, “The most important thing is trying to find a business with a wide and long-lasting moat around it, protecting a terrific economic castle…”. […]

source: https://thefinance.sg/2024/08/03/why-do-some-businesses-thrive-the-secret-to-building-lasting-competitive-advantages/