I’ve been digging into long-term investments lately and keep circling back to one key question: how can you really tell if a company has a lasting competitive advantage? It’s easy to spot a hot stock in the short run, but figuring out what keeps a business thriving for decades feels trickier. I’d love to hear how others approach this. Do you look at things like brand loyalty, pricing power, or maybe recurring revenue models? What signs have you found most reliable when separating truly durable businesses from those that just look good for a while? Any insights or experiences you can share would be really helpful.