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要发掘有门槛而且不那么容易被竞争对手抄袭和模仿的企业,在巴菲特看来,这样的企业就是有“护城河”的企业巴菲特的投资思想里有一点很重要:寻找有“护城河”的企业。这里的缺乏“护城河”是指一个生意好赚钱大家就想模仿和抄袭。中国的很多产业在多数情况下都是一开始很好赚钱,到后来因为大家的竞争,利润率越来越薄,最后把一个生意做死了。大家在里面打的很激烈,但很难赚到、很难有企业成长起来。而要发掘有门槛而且不那么容易被竞争对手抄袭和模仿的企业,在巴菲特看来,这样
To find companies with thresholds that are not easily copied and imitated by competitors, in Buffett’s view, such enterprises are “moat” companies Warren Buffett’s investment ideas are a little important: look for “moat” “The business. The lack of ”moat" here refers to a business that makes money and everyone wants to imitate and plagiarize. Many of China’s industries have made good money in the first place in most cases. Afterwards, because of everyone’s competition, profit margins have become thinner, and finally a business has been killed. Everyone is very fierce in the inside, but it is difficult to earn and it is difficult for companies to grow up. To find companies that have a threshold and are not so easily copied and imitated by competitors, in Buffett’s view, this