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IFB358: How to Define Your Circle of Competence
Manage episode 441907600 series 3422773
Join us in Episode 358 of the Investing for Beginners Podcast as we explore the concept of the circle of competence, inspired by Warren Buffett, to enhance your investment strategy and decision-making.
00:00:51 - Circle of Competence Introduction
Understanding your investment strengths and limitations.
00:01:12 - Origin of the Concept
Popularized by Warren Buffett and Charlie Munger.
00:02:25 - Benefits of Knowing Your Competence
Increases success by focusing on familiar areas.
00:03:18 - Risks of Overstepping Competence
Avoid investing in unfamiliar industries.
00:04:21 - Competence Beyond Industries
Includes investment strategies and personal temperament.
00:05:25 - Determining Your Competence
Reflect on past experiences and strengths.
00:08:17 - Expanding Your Competence
Follow curiosity to learn new investment areas.
00:13:49 - Practical Application
Use daily observations to generate investment ideas.
Today's show is sponsored by:
Go to shipstation.com and use code INVESTING to sign up for your FREE 60-day trial.
Go to monarchmoney.com/BEGINNERS for an extended 30 day free trial!
Get two hundred fifty dollars when you join Ramp. Go to ramp.com/BEGINNERS
Find great investments at Value Spotlight
Have questions? Send them to newsletter@einvestingforbeginners.com
Start learning how to value companies here: DCF Demystified Link
SUBSCRIBE TO THE SHOW
Apple | Spotify | Google | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
505 epizódok
IFB358: How to Define Your Circle of Competence
The Investing for Beginners Podcast - Your Path to Financial Freedom
Manage episode 441907600 series 3422773
Join us in Episode 358 of the Investing for Beginners Podcast as we explore the concept of the circle of competence, inspired by Warren Buffett, to enhance your investment strategy and decision-making.
00:00:51 - Circle of Competence Introduction
Understanding your investment strengths and limitations.
00:01:12 - Origin of the Concept
Popularized by Warren Buffett and Charlie Munger.
00:02:25 - Benefits of Knowing Your Competence
Increases success by focusing on familiar areas.
00:03:18 - Risks of Overstepping Competence
Avoid investing in unfamiliar industries.
00:04:21 - Competence Beyond Industries
Includes investment strategies and personal temperament.
00:05:25 - Determining Your Competence
Reflect on past experiences and strengths.
00:08:17 - Expanding Your Competence
Follow curiosity to learn new investment areas.
00:13:49 - Practical Application
Use daily observations to generate investment ideas.
Today's show is sponsored by:
Go to shipstation.com and use code INVESTING to sign up for your FREE 60-day trial.
Go to monarchmoney.com/BEGINNERS for an extended 30 day free trial!
Get two hundred fifty dollars when you join Ramp. Go to ramp.com/BEGINNERS
Find great investments at Value Spotlight
Have questions? Send them to newsletter@einvestingforbeginners.com
Start learning how to value companies here: DCF Demystified Link
SUBSCRIBE TO THE SHOW
Apple | Spotify | Google | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
505 epizódok
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