You can ask: When will the market value it appropriately: Read this-įulbright: One other question and I will desist. Practical lesson: If you can find the intrinsic value of a business today and the value in 2-3 years time and can buy it at a deep discount to value you will profit. The wise ones bet heavily when the world offers them that opportunity. The moat can be various things: The moat around our auto insurance business, GEICO, is low cost.-Warren Buffet I want a very valuable castle in the middle and then I want the duke who is incharge of that castle to be very honest and hardworking and able. I don’t want an easy business for competitors. The products and services that have wide, sustainable moats around them are the ones that deliver rewards to investors.-Warren Buffet.
The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage. Buy businesses with a durable competitive advantage-the moat. In such circumstances, the odds are high that an investor can pick up assets at steep discounts to their underlying value.Ĥ. The very best time to buy a business is when its near-term future prospects are murky and the business is hated and unloved.
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