Investment Wisdom(@InvestingCanons):Charlie Munger on what makes a good business: “What really makes it work is, the business school term is durable competitive advantage, which is a pretty good term. You really want an advantage that, nourished without overwhelming skill, will keep working for you for a long, long time.” And on what to avoid: “You want to avoid a business which is just so brutally competitive that nobody does well over the long pull.”

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Investment Wisdom@InvestingCanons

2026.06.02 14:18

Charlie Munger on what makes a good business: “What really makes it work is, the business school term is durable competitive advantage, which is a pretty good term. You really want an advantage that, nourished without overwhelming skill, will keep working for you for a long, long time.” And on what to avoid: “You want to avoid a business which is just so brutally competitive that nobody does well over the long pull.”