Investment Concepts

Core Concepts

Concept	Key Idea	Related To
moat	Durable competitive advantage	Competitive advantage
margin-of-safety	Buy below intrinsic value	Risk management
circle-of-competence	Know what you know	Decision-making
intrinsic-value	True worth of a business	Valuation

Secondary Concepts

Concept	Key Idea
mr-market	Market price vs. fundamental value
compounding	The eighth wonder of the world
capital-allocation	How management deploys capital
long-term-thinking	Time horizon matters
behavioral-bias	Psychology of investing

By Category

Valuation

• intrinsic-value
• margin-of-safety
• compounding

Business Quality

• moat
• circle-of-competence

Market Behavior

• mr-market
• behavioral-bias

Management

• capital-allocation
• long-term-thinking

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See also: index, people, companies