The secret to success in investing under the dynamic world of finance is that identifying businesses, which will continue to perform extraordinarily well and have sustainable competitive advantages. These kinds of advantages are also referred to as "economic moats" as they can effectively insulate the companies from any competitor and subsequently sustain long term profitability. A moat in the investment context refers to a competitive advantage that a firm has over its competition, and as such, stays at the top of its industry or sector. Understanding these advantages is crucial to both value investors and growth investors because they highly contribute to the ability of the company to create returns over time.