Understanding your Circle of Competence: How Warren Buffett Avoids Problems
Understanding your circle of competence allows you avoid problems. As we can learn from Warren Buffett, avoiding problems is easier than solving them.
«Over time, work to expand that circle but never fool yourself about where it stands today, and never be afraid to say “I don’t know.”»
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«most people have poor filters for sorting truth from fiction, and there’s no objective way to know if you’re particularly good at it or not.»
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How to Remember What You Read
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«We shouldn’t read stuff we find boring. Life is far too short.»
Focus to Win
Since focus requires saying no, it also means really smart people and good competitors are saying no to really good ideas.
«This sounds really simplistic, but it still shocks me how few people actually practice this, and it’s a struggle to practice, but is this issue of focus.»
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