Finding Your Circle of Competence in Investing

The world’s best investing minds have made fortunes that most people can barely dream of in their lifetimes, but having a successful portfolio doesn’t require the highest IQ, an office full of analysts, or access to top secret information.

Understanding your own strengths and being able to identify the fields that are of interest to you are crucial components of a fruitful investing practice, and maintaining a limited scope in your research and analysis can help you maintain focus and avoid wasting energy on superfluous data.

This week, Phil and Danielle take a look (and listen) to the latest Berkshire Hathaway shareholder meeting and discuss some key takeaways from one of value investing’s most important financial summits.

If you’d like to evaluate your investing knowledge, discover areas for improvement, and enhance your investment strategies, click here for the Rule #1 Investing IQ Quiz: https://bit.ly/3Faf7ks

Topics Discussed:

• 2024 Berkshire Hathaway Shareholder Meeting
• Market indices
• The importance of mentorship
• Investing in your interests
• Circle of competence

Resources Discussed:

• The Intelligent Investor
• Moody’s Transportation Manual
• Value Line

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