The stock market is a funny place: When great businesses go on sale, most people don’t rejoice. The reason is simple: Like companies in any other industry, most tech companies are doomed to failure, or at least mediocrity, by the viciously corrosive nature of free-market capitalism. Only companies with moats, to use Warren Buffett’s famous and accurate metaphor, can withstand the intense competition it begets. Read More...
The stock market is a funny place: When great businesses go on sale, most people don’t rejoice. The reason is simple: Like companies in any other industry, most tech companies are doomed to failure, or at least mediocrity, by the viciously corrosive nature of free-market capitalism. Only companies with moats, to use Warren Buffett’s famous and accurate metaphor, can withstand the intense competition it begets.
