In this episode, Robert revisits one of Warren Buffett’s most famous investing ideas and asks what happens when the “wide economic moat” starts to shrink. He explores how once-unshakable giants can lose their edge, what separates a moat from a mirage, and why some advantages are built to last. From trash collection to social networks to the world’s most trusted cryptocurrency, he shares examples of moats that still hold strong and what makes them different. Plus, a listener question on his most controversial investing takes and why the market’s next phase could reward the patient and prepared.