Economic Moat
定义
意指企业抵御竞争对手对其攻击的可持续竞争优势。 护城河基于资源的稀缺性，当公司掌握了某种稀缺资源后，这种稀缺就称为一种护城河。 护城河可以帮助公司建立竞争优势。 Conceptualized and named by Warren Buffett, an economic moat is a distinct advantage a company has over its competitors which allows it to protect its market share and profitability. It is often an advantage that is difficult to mimic or duplicate (brand identity, patents) and thus creates an effective barrier against competition from other firms.