A "moat" is a deep and wide ditch that is usually filled with water. It was built around castles or fortresses in the past as a defense strategy to make it difficult for enemies to reach the building. Full definition
This is one of the biggest reasons Warren Buffett doesn't invest in tech companies — it's impossible to even think about what the future economic moat of these companies will be. (thecollegeinvestor.com)
«The companies that are going to be able to withstand this are the ones that have a sort of moat around their businesses,» he said. (cnbc.com)
But, Quan and I both knew Netflix was cheap and it was going to have a wider moat in 5 years than it did in 2012. (gannononinvesting.com)