Author Topic: Circle of competence.  (Read 312 times)

galumay

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Circle of competence.
« on: March 06, 2018, 04:09:53 PM »
One of Buffett's tenents of successful investing, its probably the rule he aded to the 3 major rules of Value investing as described by Ben Graham.

I have been trying to define my own circle of competence, but thinking about it more I am defining it by defining the things outside my circle of competence - my "universe of incompetence" as I call it! So far it includes any forms of derivatives, so options, futures and other such things. It also includes short term trading, each time I have tried I have failed dismally, so obviously part of my universe of incompetence! I would add forecasts and predictions of economics, macro or other, politics, finance, markets, interest rates, commodity prices...