Prefer barriers over slogans.
01 · StructureEvaluate the mechanisms that protect economics: distribution, installed base, regulation, scale, switching costs, and accumulated know-how.
Research the advantage beneath the narrative.
IntraAlpha studies public companies through durable competitive moats and hard-to-reproduce physical assets—then connects that research to a transparent model portfolio.
Durability before excitement.
Markets reward stories quickly. IntraAlpha asks a slower question: which advantages persist after attention moves elsewhere?
Keep the research inspectable.
02 · EvidenceCompany pages preserve observations, catalysts, portfolio history, and dated evidence instead of replacing every thesis with the newest headline.
Make conviction visible.
03 · PortfolioWeights and option overlays show how research becomes exposure. A thesis is more useful when its implementation can be examined.
Two lenses, read together.
Neither lens is sufficient alone. The framework looks for strategic advantages that can survive competition and real-world assets that reinforce them.
Moat
01 · Research lensNetwork effects, switching costs, regulatory entrenchment, scale, and accumulated data or IP that make a business harder to displace.
Physical assets
02 · Research lensInfrastructure, facilities, platforms, and supply chains that require years, capital, expertise, and permissions to reproduce.
Conviction needs a vocabulary.
Four qualitative tiers describe combined moat and physical-asset strength. They are research classifications—not price targets or trade instructions.
- 01Widest + strongest
Exceptional competitive barriers paired with rare, difficult-to-reproduce physical infrastructure.
- 02Strong + established
Clear structural advantages backed by meaningful assets and a credible path toward deeper defensibility.
- 03Emerging
A moat or asset base still forming. More uncertainty, paired with potentially asymmetric upside.
- 04Tactical
Limited durable advantage. Held for a defined tactical thesis rather than as a core compounder.
Read the evidence company by company.
Open the coverage library or use the glossary to understand every rating and portfolio term.