3min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP534: The Joys of Compounding by Gautam Baid

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

Buffett and Munger's "The Circle of Competence"

The biggest advantage of developing one circle of competence over time is that different industries and types of companies are in favor at different stages of the market cycle. Having an expanded opportunity set at one's disposal to choose from can prove to be highly profitable at such times. The person that turns over the most rocks will find the best opportunities, says Gautam.

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