A "Moat" protects a company from competitors, allowing it to maintain high profit margins for decades. Think Coca-Cola or Apple. High Switching Costs: Companies like Microsoft or Oracle.
This rule requires the discipline to do nothing until the market crashes or a stock is undervalued.
Businesses that own a "must-use" service or infrastructure. 👤 Rule 3: Quality Management
Stick to industries you know (e.g., tech, retail).
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