Bella: no, not the moats.

贝拉：不，没有壕沟。

Look, there are two moats over there.

你看，两边还有两条护城河呢。

Stock with companies with narrow "moats".

选择少有“护城河”的公司。

What did you expect, coffins and dungeons and moats ?

你以为是什么样像棺材地牢或者城壕那样的？

What are the signs of great "moats " around abusiness and great managements?

有“深护城河”和优秀管理层的公司有哪些特质？

The thick walls and moats of castles were built as barriers against attackers.

城堡修筑厚实的城墙及护城河都是为了将其用作防御进攻的障碍物。

If the wall is low, the moats shallow, and the defenses weak then it can be taken.

如果它的城垣低，战壕浅，守备弱，就能攻下来了。

In short, users no longer own the moats, the walls, the doors or the Windows to their data.

简言之，用户不再拥有围城的深沟、坚壁、城门或窗户来保障他们的数据。

He also seeks companies with "moats" of competitive advantage to withstand assaults by fresh rivals.

他还寻找那些构筑了竞争优势“壕沟”、可抵挡住新竞争对手冲击的公司。

Before answering that question, it might be best to ask under what circumstances all Banks could have moats.

答复这个问题之前，最好问问在什么情况下，各银行可能有护城河。

Business history is filled with "Roman Candles," companies whose moats proved illusory and were soon crossed.

商业史充满了“罗马蜡烛”，那些自我保护措施不足的公司会很快在竞争中败下阵来。

Over time, colleges and universities have built sturdy walls and deep moats around their academic city-states.

随着时间推移，高校在自己的学术城邦周围修建了坚实的城墙和很深的护城河。

Such bathing spots are few, however, since many of Angkor's moats and reservoirs have dried up over the centuries.

然而在过去几个世纪中，吴哥的许多护城河和水库逐渐干涸，这样可以用来给马洗澡的地方已经很少了。

Their home was made up of concentric islands separated by wide moats and linked by a canal that penetrated to the center.

他们的家园由同心岛屿构成，用宽阔的护城河隔开，并通过一条贯穿至中心的运河相互联系。

They're such lousy swimmers that some zoos have stopped surrounding enclosures with moats –too many orang-utans have drowned.

它们的水性非常差，以致有些动物园已经不再以壕沟做围护，因为溺死的红毛猩猩太多了。

All of the exhibits are designed with barriers, moats, walls or fencing, quite often fencing that's difficult for visitors to see.

所有的展品都设计了栅栏、壕沟、墙壁或篱笆，不过不会使游客们难以看清展品。

But one day, peach blossoms suddenly occupy all villages and river banks, willows control all the imperial moats and civil rivers.

然后，突然有一天，桃花把所有的山村水廓都攻陷了。 柳树把皇室的御沟和民间的江头都控制了。

"Business history is filled with" Roman Candles ", companies whose moats proved illusory and were soon crossed, "he added in 2007.

“商业史上充斥着大量罗马蜡烛'公司，它们的壕沟形同虚设，很快就被对手越过。”他在2007年股东信中写道。

They were hard at work, by the water's edge, building an elaborate sand castle with gates and towers and moats and internal passages.

他们玩得很起劲，在水边用沙子建起带大门、塔楼、护城河和内部通道的精美城堡。

Dorsey said: In my experience, the most common "mistaken moats" are great products, strong market share, great execution, and great management.

多尔西说：最容易被误认为是护城河的四项是：优秀的产品、高市场占有率、杰出的执行力和管理。

Of course, it is highly improper to build bridges across defensive moats, especially on the side of the fortress the enemy was expected to appear on.

当然，在用以防御的护城河上，特别是在可能出现敌人的城堡一侧搭建桥梁是非常不合理的。

They all have appropriate moats and walls; they have enough artillery; they always store in their public warehouses enough drink, food, and fuel for a year.

他们都有合适的护城河与城墙；他们有足够的火炮；他们总是在他们的公共仓库里储备足够的饮料和食物，以及一年的燃料。

We look for moats around businesses. We look for castles (businesses) that have a moat surrounding it which is expanding as a primary consideration of a great business.

我们寻觅生意的护城河，我们也寻觅那些有护城河围绕的城堡(生意)而且它们的护城河能够延伸成为使生意做大做强的首要考虑要素。

We look for moats around businesses. We look for castles (businesses) that have a moat surrounding it which is expanding as a primary consideration of a great business.

咱们寻找生意的护城河，咱们也寻找那些有护城河环绕的城堡（生意）并且它们的护城河可以或许舒展成为使生意做小做强的重要思索因素。