竞争护城河: AI 评估 商业持久性 and 定价权

Durable competitive advantages are the foundation of long-term wealth creation.

Moat Categories

Network effects, switching costs, intangible assets (brands, patents), cost advantages, and efficient scale each create different types of moats.

Moat Erosion Detection

Even wide moats can narrow.

Quantifying Pricing Power

Companies that consistently raise prices above inflation without losing market share have genuine pricing power.