Wissen zu economic moats | Burggräben | kompetitiven Wettbewerbsvorteilen

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Moats sind ein wichtiges Thema beim Investieren - insbesondere bei Valueansätzen. Laut Investopedia sind Moats das hier:

Economic moat is the competitive advantage that one company has over other companies in the same industry; this term was coined by Warren Buffett, a renowned investor and executive at Berkshire Hathaway. The wider the moat, the larger and more sustainable the competitive advantage of a firm. By having a well-known brand name, pricing power and a large portion of market demand, a company with a wide moat possesses characteristics that act as barriers against other companies wanting to enter into the industry.

Read more: Economic Moat Definition | Investopedia http://www.investopedia.com/terms/e/economicmoat.asp#ixzz4Ge4vwGP8

 

Moats kann man auch Burggräben oder kompetitive Wettbewerbsvorteile nennen.

 

Buffett sieht die Burggräben als dauerhaft dynamisch an:

"What we refer to as a “moat” is what other people might call competitive advantage . . . It’s something that differentiates the company from its nearest competitors – either in service or low cost or taste or some other perceived virtue that the product possesses in the mind of the consumer versus the next best alternative . . . There are various kinds of moats. All economic moats are either widening or narrowing – even though you can’t see it."

Quelle

 

Hilfreich finde ich diese Morningstartabelle zu Moats.

 

Sehr interessant finde ich auch die Gedanken, die sich Jan-Hendrik Mohr zu Moats in Zeiten von Umwälzungen durch die Digitalisierung macht. Die Bewegung hierin betrifft auch stabile Geschäftsfelder, wie das Beispiel des Dollar Shave Club zeigt.

 

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Ein Interview aus dem Manual of Ideas zu Moats

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Peter Thiel’s Stanford Lecture Nr. 5: Competition is for Losers

Peter Thiel on the Characteristics of Monopoly