Real companies

Real companies, from their real annual reports.

Coca-Cola, Apple, Costco and 400 others. You see what each company sells, how it makes money, its margins and its debt, all taken from the reports it filed. The price and the year stay hidden, so you can’t cheat.

Revenue, profit, debt and growth over five years
The full annual report opens after you’ve made your call

Your call

Work out what it’s worth on a napkin.

No spreadsheets. Moat walks you through a few sums: what the company earns, how fast that’s growing, and what you’d pay for it today. Then you decide whether to buy, wait or pass.

Guess the price before the reveal for bonus XP
More valuation methods in Settings when you want them

Collect them all

Every company becomes a card.

Each company you value goes into your binder with its real numbers and the call you made. When you’re right, the card goes shiny. There are four rarities and a set for every sector.

LegendaryRareUncommonCommon

Skip ahead

See if you were right.

Once you buy, the clock runs forward on real prices. Dividends arrive on the dates they were really paid, and each new annual report turns up on the day it was filed, so you can value the company again. Your returns are tracked against the S&P 500.

Buy, sell or set a limit order
You only ever see what an investor could have known at the time

Mr. Market

Mr. Market drops by with offers.

He comes from Benjamin Graham’s famous story. Some days he’s gloomy and offers you his shares cheap, other days he wants far too much. You can trade with him or ignore him.

Berkshire rounds

Value the companies Berkshire bought.

Go back to when Berkshire Hathaway first bought a company and make your own call with the same numbers. Then compare your timing with what Berkshire did.

Learn

Lessons that start with a pie shop.

The lessons begin with a small business you can picture and build up to listed companies. There’s a practice gym for quick drills, and a coach on your iPhone you can ask anything.

Your money

A salary, bills and a budget.

You get a job and a monthly pay cheque, and rent and bills come out of it. Each month you choose how much to invest. You can buy a house or a car too, but that money stops compounding.

No real moneyNothing you do in Moat touches a bank or a broker.

Real numbersEvery figure comes from a company’s own annual report.

A private coachIt runs on your iPhone, so your questions stay on your phone.

Ranks and streaksEarn XP, rank up and keep a daily streak going.

Plans

Free to play.

Free

No time limit.

25 well-known companies, plus a company of the day
21 of the 47 lessons
One Berkshire round
Three questions to the coach
Clock speed up to 5×
Collect cards

Moat Pro

Opens everything.

All 404 companies
All 47 lessons
All 35 Berkshire rounds
The coach, as much as you like
Clock speed up to 10×
Shiny cards for right calls, your report card and a yearly shareholder letter

Questions

Common questions

Do I need to know anything about investing?

No. The lessons start from the basics, and Moat walks you through your first company step by step.

Is it real money?

No. You invest with in-game money. Moat never connects to a bank or a broker.

Are the companies real?

Yes. The numbers come from each company’s annual reports filed with the US SEC, and the prices are real historical prices.

Is this financial advice?

No. Moat teaches you how to think about a business. It never tells you what to buy.

When can I play?

Soon, on iPhone. Check back here.

Is Moat connected to Berkshire Hathaway?

No. Moat isn’t affiliated with Berkshire Hathaway or Warren Buffett. The Berkshire rounds use its public 13F filings.

Moat: the game that teaches you to invest

Have a look around.