Category Archives for "Success 101"
The “Circle of Competence” is an investing concept coined by Warren Buffet and Charlie Munger. The former once remarked in one of his now legendary shareholder letters that “One of the things we try very hard to do at Berkshire, is to stay within what I call our circle of competence.” What that meant for […]Continue reading
I have seven brothers-in-law, and they are all financial illiterates. Both sides of the family: my wife’s brothers and my sisters husbands. It would be more poetic if each one corresponded to the “7 Deadly Sins” but they all correspond to sloth and I don’t think being financially clueless is one of the deadly sins. […]Continue reading
Today, two close associates both asked me my advice on “the stock market” (I won’t say “investing in”, see below). One had seen a late night infomertial advising him to “short the S&P NOW” and wanted to know how to buy put options. I told him the basics of how to do that, and then […]Continue reading