The Economic Moat as a Core Investment Thesis
In this briefing, we explore the microeconomic principles of competitive advantage, outlining how to identify enduring economic moats.
Preserving and growing wealth through a disciplined focus on high-quality companies with enduring competitive advantages.
We avoid speculation. Instead, we analyze microeconomic principles to identify businesses that can maintain extraordinary profitability over decades.
We seek companies with wide 'moats'—proprietary assets, cost advantages, or network effects—that protect market share and pricing power.
Our horizon is measured in years, not quarters. We harness the power of compounding by holding high-quality assets through market cycles.
True risk is not volatility, but the permanent loss of capital. We mitigate this by focusing on strong balance sheets and proven earning power.
Hutner Capital Management specializes in preserving and growing family wealth. Originally a multi-family office, our firm draws upon a legacy of financial stewardship that dates back to 1925.
Based in Manchester, Vermont, we operate with a clear perspective, removed from the herd mentality of financial centers. This independence allows us to remain objective, patient, and focused solely on the long-term prosperity of our clients.
Founder & Managing Director
Over 35 years of investment management experience. Founded Hutner Capital Management in 1995 to manage family portfolios with a focus on enduring economic moats.
Portfolio Manager
Specializes in analyzing microeconomic competitive advantages. Focuses on long-term compounders and value investing principles.
We invite you to contact us to discuss your financial situation and how our quality-focused approach can help preserve your legacy.
Manchester, Vermont
United States
(802) 362-2303
info@hutner.capital