The Importance of Investing in Your Circle of Competence

"Because of greed I started looking at merger work and because I like them so much I start looking at merger workouts outside of my circle of competence," says the CEO. "There's another bet I made during this time period that I shouldn't have made because it's just completely outside of my Circle of Competence" The business has to be inside of mycircle of confidence, he adds. 'You got a bad result you deserve a bad result because you're investing outside your circle of competence'