American Association of Individual Investors

American Association of Individual Investors

Economic Moats: The Engine Behind Long-Term Earnings Power

Sustainable value creation requires a competitive advantage that has both magnitude and duration.

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AAII
Jun 01, 2026
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Featured Tickers: AAPL, AMZN,BB, COST, CSCO, GOOGL, KO, MA, META, MSFT, RYCEY, V, WMT, ZM

  • Long-term stock performance depends on sustained earnings and competitive advantages

  • Six moat types can help businesses defend profits and generate lasting returns

  • How to evaluate moat durability, risks of erosion, and impact on capital allocation and valuation

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