In the previous posts, we explored three economic moats : the cost advantage moat , the brand moat , and the network effect moat . Today, we’re looking at another powerful competitive advantage: the switching costs moat . With a network effect moat, a product becomes more valuable as more people use it. Customers stay because the service keeps getting better. But what if customers stay even when they’d rather leave? That’s exactly what happens when a company has strong switch

Understanding the business behind a stock is one of the core principles of how I invest today. It’s the difference between owning a ticker symbol and owning a real business. Today, I wanted to share what this actually means and how it helped make me a better investor. When I first started buying individual stocks, I didn’t think about the companies behind the stocks I was buying. Stocks were nothing more than random symbols to me. I didn’t view stocks as ownership in busines