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TIP636: Billionaire Investing Legend Li Lu w/ Clay Finck
We Study Billionaires - The Investor’s Podcast Network
Investing Within Your Circle of Competence
Investing within your circle of competence is crucial in the market as it exposes investors who operate outside of it. Luck eventually fades away, and the real risk lies in investing in areas where one lacks expertise. Value investing is challenging because it involves finding mismatches between price and value. People struggle to detach their perception of a business's worth from the market's valuation. Investing in great businesses is key according to Li Lu.
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