Expanding Your Circle of Competence in Investing

Your circle of competence is the cornerstone of smart investing. Expanding your knowledge as you grow keeps your skills sharp and your strategy strong.

When you focus on what you know best, you gain a clearer view of potential investments. This clarity can help you navigate market shifts with greater confidence and resilience than when you’re taking on an investment with more unknowns.

In this episode, Phil and Danielle discuss how your perspectives can change over the years, and how expanding and refining your circle of confidence can use that change to your advantage.

If you’ve found your circle of competence and you’re ready to invest, click here for your free copy of How To Pick Stocks: The 5-Step Checklist for help with identifying which businesses are right for you: https://bit.ly/3ros8mU

Topics Discussed:

• Figuring out “wonderful”
• Qualitative vs quantitative analysis
• Continuous education
• Circle of competence
• Finding your “one thing”
• Rule #1 of investing

Resources Discussed:

• Groundhog Day
• City Slickers

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