I was reading the winning habits of warren and soros. Rather disappoint, but it sets me thinking.
Do note that I do not question the wisdom of these legendary great, I question my own understanding of them. So here goes:
Circle of competence.
How long have u been seriously investing? Few years? A decade? Do u have a circle of competence to start with? I know I don’t, I am still experimenting and learning. I have tried recovery plays concept, dividend play concept, value-investing concept. I am no master in any of them, so should I stick to any defined circle? I think not. Staying in that circle, will cause me running in a circle, not circle of competence. But I do know my circle of incompetence. 1) Penny trading. 2) trading in gnerally. 3) TA 4) investing based solely on numbers and ratios
Be greedy while others are fearful.
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