Busines moat. Does it still work?

$Alibaba (BABA.US)$ $Tencent (TCEHY.US)$ $PDD Holdings (PDD.US)$ $JD.com (JD.US)$ $NetEase (NTES.US)$

We know that this term has been made famous by Warren buffett. What does it mean? A company that has a business model that builds it's businesses into defensible verticals that competitors cannot break into. One famous example is $Coca-Cola (KO.US)$ , which $Berkshire Hathaway-A (BRK.A.US)$ has held on for many many years.

If a company is so good that it has developed a very strong business platform of good products and services that has a long lasting competitive advantage then it is a good business and stock that one can afford to hold on for ages if one can get it at the minimum at the fair price. It will be even better if we can get it at a significant discount to fair price.

But is there such company in current climate? It is a hard question that does not have an easy answer. With significant technological advancement, there could be disruptions to companies' businesses. If this is the case, could moat last more than a few years? It depends on whether the company is able to develop its products/services via innovation at a competitive cost.

$China Concept Stocks (LIST2517.US)$ $ByteDance Ecosystem (LIST1266.HK)$ $Pinduoduo Concept (LIST0724.SH)$ $Hang Seng TECH Index (800700.HK)$ $BABA-W (09988.HK)$ $NTES-S (09999.HK)$ $JD-SW (09618.HK)$ $TENCENT (00700.HK)$

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whqqq : In the current environment, most investors are not confident, especially those companies that once considered excellent but are now falling.

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