• Expert Insights
  • ETF Channels
    • ETF Strategist
    • Exchange – An ETF Experience
    • Multi-Asset
    • Smart Beta
    • Beyond Basic Beta
    • Thematic Investing
    • Leveraged & Inverse
    • Disruptive Technology
    • Innovative ETFs
    • Equity ETF
    • Retirement ETF
    • Crypto
    • ETF Building Blocks
    • Nasdaq Investment Intelligence
    • Model Portfolio
    • Active ETF
    • ESG
    • Multi-Factor
    • Entrepreneur ETF
    • ETF 360
    • ETF Education
    • Gold & Silver Investing
  • Webcasts
  • Popular ETFs
    • SPY – SPDR S&P 500 ETF
    • VOO – Vanguard S&P 500 ETF
    • QQQ – Invesco QQQ ETF
    • GLD – SPDR Gold Shares ETF
    • IVV – iShares Core S&P 500 ETF
    • EFA – iShares MSCI EAFE ETF
    • EEM – iShares MSCI Emerging Markets ETF
    • IEMG – iShares Core MSCI Emerging Markets ETF
    • VTI – Vanguard Total Stock Market ETF
    • GDX – VanEck Vectors Gold Miners ETF
    • XLF – Financial Select Sector SPDR Fund
    • VEA – Vanguard FTSE Developed Markets ETF
    • VTV – Vanguard Value ETF
    • Top Gold ETFs
    • Top Oil ETFs
    • Top Commodity ETFs
    • Top Hedge Fund ETFs
    • Top Financials ETFs
    • Top Inverse Equities ETFs
    • Top High Yield Bond ETFs
  • ETF Education
    • Newsletter
    • New ETFs
    • ETF Ecosystem
    • Education Central
    • Video
    • Podcasts
    • ETF Playbook
  • Virtual Summits
    • ETFs Future-Forward 2021: An iShares Investing Symposium
    • Three Themes for 2021: An iShares & MSCI Investing Symposium
You are at:Home»Advisor Solutions Channel»Warren Buffett: The Importance Of Having A Circle Of Competence
Advisor Solutions Channel

Warren Buffett: The Importance Of Having A Circle Of Competence

Value Walk November 30, 2018

By Jacob Wolinsky, Value Walk

Warren Buffett discusses the importance of having a circle of competence.

Transcript

What’s on your mind and the you’re going to ask anything. The only thing I will tell you is what we’re buying or selling are about. The. Same but. I don’t need to tell myself that. I mean I write it down. It’s like the Coca-Cola formula you know there’s only two people can get into the. Trust department and find out what they are and I don’t know who the two are. It’s you don’t talk about what we’re buying or selling but anything else is fair game. Personal Business anything you’d like to talk about. And actually the tougher the questions are the more interesting it is for me so don’t don’t spare my feelings I may just throw up my head. And with that let’s guess we’ve got a microphone. Is this the only microphone or is there one on this if you like.

OK. Here like to stay on the line. And I’ll be Regis Philbin and you can. Also. I believe that I can only should expect to make money and things that I understand and when I say I understand I don’t even understand. What.

The product does or anything like that. I mean I understand what the economics of the business are likely to look at look like 10 years from now or 20 years from now. I know in general what the economics of say Wrigley chewing gum will look like 10 years. Now. The internet isn’t going to change the way people chew gum. It isn’t going to change which come true. You know if you own the chewing gum market. In a big way and you’ve got Doublemint spearmint Juicy Fruit those brands will be there 10 years from now. So I can Tandan point exactly what the numbers are going to look like on Regli but I’m not going to be way off if I try to look forward on something like that that evaluating that company is within what I call my circle of competence. I understand what they do. I understand the economics of it I understand the competitive aspects of the business. There can be all kinds of companies that have wonderful futures but I don’t know which ones they are.

For more trends in fixed income, visit the Advisor Solutions Channel.

RELATED TOPICS
fundamentalsInvestingstocksValueWarren Buffett
FREE DAILY NEWSLETTER

Enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.

X
  • Subscribe to Our Free Daily Newsletter!

    Connect With Us

    • Facebook
    • Twitter
    • LinkedIn
    • Youtube
    • RSS


  • Be Sure to Visit

    • ETF Education Central
    • ETF Ecosystem
    • Glossary
    • Webcasts
    • Video
  • Resources

    • Sign Up For Our Newsletter!
    • About ETF Trends
    • Contact Us
    • Sitemap
    • Privacy Policy
    • Terms of Use

COPYRIGHT ©2005–2021 ETF TRENDS