Knowing Your Strengths
I recently came across this trip report about a college investment club’s visit to Omaha to see Warren Buffett.
There are a lot of take away messages about investing and about life. I’ve read about Warren Buffett in other articles and books but those often focus on his investment success and his friendship with Bill Gates.
One message that the students came with struck me: “Stay within your circle of competence.”
It is important to recognize your strengths and weaknesses. In the game of life, you want to be in areas where you have an advantage. When you are in an area of weakness, ask questions and get help.
In our modern society, we value highly professionals with specialized skills: dentists, lawyers, software programmers, plumbers, auto mechanics, etc. We all have our designated roles to play in this world.
Do you have an arena where you can step into, where you know you can beat everyone else? That’s where you need to be.
Tags: investing, specializations, strengths
