Welcome to the Investing for Beginners podcast! In today's episode, we will do a bird's eye view in how to approach in studying an industry that is not in your circle of competence as investors will say. We will take you in on how we approach it ourselves step by step and discuss the nuances of each so listen on!

Timestamps of the episode:

-Great frameworks to use in starting to study a new industry. A way to extend your circle of competence. [01:50]

-Starting with the sales trend of companies in an industry paints a financial picture to where an industry is headed. [05:20]

-Identifying the key players in each industry is helpful and important in gauging if an industry is investable or not. [10:50]

-How to approach studying a technical industry like the semi-conductors. [14:25]

-Tracing the value chain of an industry helps you find under the radar businesses that are profitable.[18:50]

-Continuous learning and keeping up to date in the industry you're invested in should not be hard and can be boiled down to few metrics. [23:38]

Note: Timestamps may differ and are approximate, depending on your podcast player.

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Flashback: Melissa Bernstein of Melissa & Doug