06/03/2026
Most investors focus on what a business is, but we are also focused on what protects it.
A company can grow quickly, post strong numbers, and still be vulnerable.
Because in markets, success doesn’t go unnoticed.
It invites competition.
The question isn’t whether a business is winning today, it’s whether it can keep winning in the long run.
That’s what a moat reveals.
At Iron Elk, we study durability. Because the best investments aren’t just built strong… they’re defended well.
Next week, we'll look at management. Who's making the decisions inside the castle?