/ Learn value investing
Plain-English guides to the frameworks behind Moatly — how to value a business, judge a moat, and invest with discipline instead of hype.
What Is an Economic Moat? The 5 Types Explained
An economic moat is a durable competitive advantage that protects a company's profits. Learn the 5 types of moats, real examples, and how to spot them before you invest.
6 min read →How to Calculate the Intrinsic Value of a Stock
Learn how to calculate the intrinsic value of a stock using three methods — discounted cash flow, 10-CAP, and Payback Time — so you know what a business is really worth before you buy.
7 min read →The Big Five Numbers: How to Tell If a Business Is Great
The Big Five numbers — revenue, earnings, equity, operating cash, and free cash flow growth — reveal whether a company is truly compounding. Learn how to read them before you invest.
6 min read →What Is the 10-CAP Valuation Method?
The 10-CAP method is a fast way to value a stock like you'd value a rental property. Learn how to calculate it with owner earnings and when to use it.
5 min read →Circle of Competence: How to Know Which Stocks You Actually Understand
Your circle of competence is the set of businesses you genuinely understand. Learn what it is, why it protects your returns, and how to define yours.
5 min read →What Is ROIC and Why It's the Truest Test of a Great Business
Return on invested capital (ROIC) reveals whether a company creates or destroys value. Learn how to read ROIC and why it's central to judging management.
5 min read →What Is Payback Time in Investing?
Payback Time tells you how many years a company's growing earnings take to repay your purchase price. Learn how to calculate it and why it signals a margin of safety.
5 min read →Margin of Safety: The Most Important Idea in Investing
The margin of safety is the gap between price and value that protects you when you're wrong. Learn what it is, how much to demand, and why Buffett swears by it.
5 min read →How to Spot a Value Trap
A value trap looks cheap but keeps falling. Learn the warning signs — eroding moats, fake earnings, broken cash flow — and how to avoid them.
6 min read →What Are Owner Earnings?
Owner earnings are the real cash a business produces for its owners — often very different from reported net income. Learn how to estimate them and why they matter.
5 min read →Wide Moat vs. Narrow Moat: What's the Difference?
A wide moat can defend a business for a decade; a narrow moat is less certain. Learn how to tell them apart and why moat width changes how much you should pay.
5 min read →Free Cash Flow vs. Earnings: Which Should You Trust?
Earnings can be massaged; cash is harder to fake. Learn the difference between free cash flow and earnings and why the gap between them reveals business quality.
5 min read →The Rule #1 Investing Checklist
Rule #1 investing comes down to four questions before you buy any stock. Use this 4M checklist — Meaning, Moat, Management, Margin of Safety — to invest with discipline.
6 min read →How to Read a Balance Sheet
A balance sheet shows what a company owns, owes, and is worth. Learn the three parts — assets, liabilities, equity — and what to look for before you invest.
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