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The Young Investors Podcast
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Circle of Competence - How Much Do You Need Know?
There's no real easy, clean answer to this. I think it's something you kind of have to feel around about. What really the circle competents means is to understand deeply the economics of a certain business. So how does the business make money? What expenses are generally taken on by that business? That's really what you need to understand about a business for it to be within your circle of competence. Ah, thank you for the podcast and the useful knowledge. We appreciate it.
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