In the brutal warfare of capitalism, success attracts competition. If a company makes high profits, rivals will come to steal them-unless the company has a defense. Warren Buffett calls this the "Economic Moat," and it is the single most important concept for long-term investors.This book is a deep dive into the art of identifying durable competitive advantages that protect a business from attack. It moves beyond simple financial ratios to analyze the qualitative structural features that create a true moat: network effects, switching costs, intangible assets (like brands or patents), and cost...