lol @ lack of a moat. That's like saying apple doesn't have a...

lol @ lack of a moat.

That's like saying apple doesn't have a moat because any company can make a smartphone.

That aside, the presence of a moat or lack thereof is an overrated 'asset'.

There's plenty of companies out there with 'moats' who are getting turfed by the market.

Buffetology doesn't work in the 21st century. Get with the times. This is the age of growth over earnings and credit over cash. Cloud over brick & mortar, digital vs analogue etc etc etc