Loading video...

Video Failed to Load

There was a problem loading this video. This could be due to a temporary network issue or the video might be unavailable.

Know your circle, know its boundaries, and stay within them. That's how you practice humility, an important trait for an investor. Ian Cassel reiterates the powerful idea of "circle of competence" with his focus on microcap investing. Full episode here:

Vishal Khandelwal

222,980 subscribers

10,755 views • 11 days ago •via X (Twitter)

Anya Rossi• Live Now

Private livecam show

4 Comments

Anil Soni10 days ago

@iancassel His book Stock Picker is gem of investing with common sense !

Emilt white10 days ago

@iancassel What's up Vishald Love the wisdom shared by Ian Cassel on staying within one's circle of competence, especially when it comes to microcap investing!.

CA Sandeep Daga10 days ago

@iancassel

Rupert M.10 days ago

@iancassel Adjacent is where people get overconfident

Related Videos

Warren Buffett: "Defining your circle of competence is the most important aspect of investing. It's not how large your circle is. You don't have to be an expert on everything." "Knowing where the perimeter of that circle is — and staying inside of it — is all-important."

Warren Buffett: "Defining your circle of competence is the most important aspect of investing. It's not how large your circle is. You don't have to be an expert on everything." "Knowing where the perimeter of that circle is — and staying inside of it — is all-important."

Kevin Carpenter

57,549 views • 1 year ago

PETER LYNCH: THE MOST IMPORTANT THING IN THE STOCK MARKET IS TO KNOW WHAT YOU OWN He says most people can't pass a simple test. If you can't explain why you own a stock to a 10-year-old in two minutes, you shouldn't own it: "I'm amazed how many people own stocks. They would not be able to tell you why they own it. They couldn't say in a minute or less why they own it. If you really press them: the reason I own this is the sucker's going up. And that's the only reason." Lynch then ties it back to Warren Buffett's circle of competence: "All the businesses you can understand is the most important aspect of investing. If you have doubts about a business being in your circle of competence, it isn't." His point: you can understand Coca-Cola, McDonald's, Walmart, Costco. Stay inside that circle. "It's better to be well within the circle than to be trying to tiptoe along the line. My circle of competence is pretty small, but it's big enough."

PETER LYNCH: THE MOST IMPORTANT THING IN THE STOCK MARKET IS TO KNOW WHAT YOU OWN He says most people can't pass a simple test. If you can't explain why you own a stock to a 10-year-old in two minutes, you shouldn't own it: "I'm amazed how many people own stocks. They would not be able to tell you why they own it. They couldn't say in a minute or less why they own it. If you really press them: the reason I own this is the sucker's going up. And that's the only reason." Lynch then ties it back to Warren Buffett's circle of competence: "All the businesses you can understand is the most important aspect of investing. If you have doubts about a business being in your circle of competence, it isn't." His point: you can understand Coca-Cola, McDonald's, Walmart, Costco. Stay inside that circle. "It's better to be well within the circle than to be trying to tiptoe along the line. My circle of competence is pretty small, but it's big enough."

WOLF

19,544 views • 3 months ago

If you have to ask whether an investment is within your circle of competence, that hesitation is often the answer. A narrow circle isn’t a handicap, the risk is stepping outside it. Our Portfolio Manager, Mohnish Pabrai, discusses the “inch wide, mile deep” approach and why an investor's circle will naturally expand over time.

If you have to ask whether an investment is within your circle of competence, that hesitation is often the answer. A narrow circle isn’t a handicap, the risk is stepping outside it. Our Portfolio Manager, Mohnish Pabrai, discusses the “inch wide, mile deep” approach and why an investor's circle will naturally expand over time.

Pabrai Wagons ETF

16,388 views • 7 months ago

Warren Buffett's legendary speech at the University of Georgia. This speech is a great piece on business and investing. But I specifically enjoy it for Buffett's humor and life lessons. Here are some of my favorite points: 1. Don't work for your Resume - Work for someone you admire. Not to upgrade your resume. Working jobs that you hate first sounds to Buffett like: "Saving up sex for when you're old." Focus on learning on the job! 2. Qualities to focus on in Life - Buffett's Thought Experiment: Look around in your classroom, which classmate would you choose when you could keep 10% of his earnings for the rest of your life? Also, think about the inversion of this scenario: Who would you sell short? The characteristics that you focus on when answering these questions are the ones you should focus on in your own life. 3. The Best Compounders are Stable Companies - "The internet won't change how you chew gum." Buffett's biggest successes come from companies that aren't disruptable. Industries that are subject to disruption are a bad spot to look for long-term investments. 4. Go Short Horses, Not Long Cars - Investing is not about spotting the disruptors. In most cases, it's obvious when a life-changing product comes up. The question is, who profits from that change? It was a matter of time before cars replaced horses. But out of hundreds of car companies, only a handful actually succeeded. The same happened in the airline industry. 5. Managing your Circle of Competence - According to Buffett, the key to successful investing is to manage your circle of competence. It's not how big that circle is. More important is that you know your boundaries and always stay within them. 6. The Birds in the Bush - "A bird in the hand is worth two in the bush." However, an investor should also ask: 1. How many birds are in the bush? 2. When will they come out? 3. How sure am I? Investing is all about answering these questions. What investing lecture/speech/video can you recommend to me? If you enjoyed this tweet, please Retweet and Like it!

Warren Buffett's legendary speech at the University of Georgia. This speech is a great piece on business and investing. But I specifically enjoy it for Buffett's humor and life lessons. Here are some of my favorite points: 1. Don't work for your Resume - Work for someone you admire. Not to upgrade your resume. Working jobs that you hate first sounds to Buffett like: "Saving up sex for when you're old." Focus on learning on the job! 2. Qualities to focus on in Life - Buffett's Thought Experiment: Look around in your classroom, which classmate would you choose when you could keep 10% of his earnings for the rest of your life? Also, think about the inversion of this scenario: Who would you sell short? The characteristics that you focus on when answering these questions are the ones you should focus on in your own life. 3. The Best Compounders are Stable Companies - "The internet won't change how you chew gum." Buffett's biggest successes come from companies that aren't disruptable. Industries that are subject to disruption are a bad spot to look for long-term investments. 4. Go Short Horses, Not Long Cars - Investing is not about spotting the disruptors. In most cases, it's obvious when a life-changing product comes up. The question is, who profits from that change? It was a matter of time before cars replaced horses. But out of hundreds of car companies, only a handful actually succeeded. The same happened in the airline industry. 5. Managing your Circle of Competence - According to Buffett, the key to successful investing is to manage your circle of competence. It's not how big that circle is. More important is that you know your boundaries and always stay within them. 6. The Birds in the Bush - "A bird in the hand is worth two in the bush." However, an investor should also ask: 1. How many birds are in the bush? 2. When will they come out? 3. How sure am I? Investing is all about answering these questions. What investing lecture/speech/video can you recommend to me? If you enjoyed this tweet, please Retweet and Like it!

Daniel Mahncke

138,726 views • 3 years ago

We had the opportunity to conduct an exclusive interview with Gunavanth Vaid, one of the finest microcap investor of recent times. He shares The Good, The Bad and The Ugly of microcap investing while highlights why investing in these segments requires a different mind and valuation set. Here’s a sneak peek! Stay tuned for the complete video on September 24th. #microcaps #startups #CaprizeInvestments #Caprize #CaprizeSmallcase #Investment #stockmarket #portfolio

We had the opportunity to conduct an exclusive interview with Gunavanth Vaid, one of the finest microcap investor of recent times. He shares The Good, The Bad and The Ugly of microcap investing while highlights why investing in these segments requires a different mind and valuation set. Here’s a sneak peek! Stay tuned for the complete video on September 24th. #microcaps #startups #CaprizeInvestments #Caprize #CaprizeSmallcase #Investment #stockmarket #portfolio

Caprize Investment Managers

17,483 views • 2 years ago

An Olodo that that has zero idea what climate change and green energy means is also having an opinion 🤣 Peter, know your boundaries. Your intellectual disability already automatically disqualifies you from commenting on certain issues and this is one of them.

An Olodo that that has zero idea what climate change and green energy means is also having an opinion 🤣 Peter, know your boundaries. Your intellectual disability already automatically disqualifies you from commenting on certain issues and this is one of them.

Pastor Who

26,667 views • 2 years ago

⭕️ The Inner Circle, Ep. 10 How do you make friends as an adult? And what happens when friendships pass their expiration date? IMO this is our first 10/10 episode—twenty minutes packed with actionable ideas for curating your friend group. Would you do me the honor of listening and let me know what you think? And if you like it, please repost! As always, watch The Inner Circle here or listen on your favorite pod platform. Links are in the comments below. Michael Winslow Brown

⭕️ The Inner Circle, Ep. 10 How do you make friends as an adult? And what happens when friendships pass their expiration date? IMO this is our first 10/10 episode—twenty minutes packed with actionable ideas for curating your friend group. Would you do me the honor of listening and let me know what you think? And if you like it, please repost! As always, watch The Inner Circle here or listen on your favorite pod platform. Links are in the comments below. Michael Winslow Brown

Kevin Dahlstrom

21,076 views • 6 months ago

I’m gutterball trash for a full-circle moment and last night’s episode of The Pitt is a fierce callback to Noah Wyle’s great work during John Carter’s addiction storyline on ER (here with Eriq LaSalle). I don’t know where Langdon and Robby go, but there’s a powerful story there.

I’m gutterball trash for a full-circle moment and last night’s episode of The Pitt is a fierce callback to Noah Wyle’s great work during John Carter’s addiction storyline on ER (here with Eriq LaSalle). I don’t know where Langdon and Robby go, but there’s a powerful story there.

Brandon Lewis

46,346 views • 1 year ago

JD Vance names the trait he says is at the root of what's wrong with American elites. MIKE ROWE: "Curiosity or humility? The greater virtue." VANCE: "Humility. "I think that it's extremely important not to assume you know more than other people." VANCE: "So many of the problems that I see, especially among American elites, comes from a certain arrogance. An arrogance that I know better than somebody else. I know how to do this better than you do. I know what's better for your life than you do. That arrogance is the source of a lot of what's wrong. "I love curious people, curiosity is very important. But how can you be genuinely curious if you're not humble?" Hard to argue with that.

JD Vance names the trait he says is at the root of what's wrong with American elites. MIKE ROWE: "Curiosity or humility? The greater virtue." VANCE: "Humility. "I think that it's extremely important not to assume you know more than other people." VANCE: "So many of the problems that I see, especially among American elites, comes from a certain arrogance. An arrogance that I know better than somebody else. I know how to do this better than you do. I know what's better for your life than you do. That arrogance is the source of a lot of what's wrong. "I love curious people, curiosity is very important. But how can you be genuinely curious if you're not humble?" Hard to argue with that.

The Vigilant Fox 🦊

238,050 views • 2 months ago

i barely know AHOF outside of voting collabs we had with them, but them covering the exact song Stray Kids did as rookies while SKZ in the crowd cheering them on feels like a full-circle moment as a STAY. 🥹

i barely know AHOF outside of voting collabs we had with them, but them covering the exact song Stray Kids did as rookies while SKZ in the crowd cheering them on feels like a full-circle moment as a STAY. 🥹

𝐚𝐮𝐫𝐨𝐫𝐚 🏎

261,428 views • 10 months ago

Let’s talk about gifts today on the GCK-King’s Circle, Episode 2. Do you know that there’s no creation of God, He has not gifted? How can you activate this Gift? Watch and God will bless you.

Let’s talk about gifts today on the GCK-King’s Circle, Episode 2. Do you know that there’s no creation of God, He has not gifted? How can you activate this Gift? Watch and God will bless you.

Pastor William F. Kumuyi

26,414 views • 2 years ago

Qullamaggie on Become An Expert Trader In 1,000 Hours, Not 10,000 “Well, you don't need ten thousand hours to become an expert. The hours themselves don't do much. What you need is focused effort. That's what people miss. Just because you're doing something doesn't make you better at it. You need to focus on getting better at it. That's how you get better. You can become an expert, you know, in ten thousand hours too — if you really, really do it. You know, push yourself. And you can still suck after ten thousand hours. That's a common thing people miss from those popular books that popularized the ten-thousand-hour rule. You need focused effort. It's deliberate practice. That's what I wanted to say. Deliberate practice — it's not about the hours. Obviously you need a lot of hours, but just so you know, ten thousand hours doesn't really mean anything if you didn't do deliberate practice. You know how many people haven't been at their jobs forever and they still suck at it, right? Or maybe you know your buddy who's been golfing for twenty years and he's still a really bad golfer — right, because he never put in deliberate practice. So the hours themselves don't mean anything. It's the deliberate practice that's important.”

Qullamaggie on Become An Expert Trader In 1,000 Hours, Not 10,000 “Well, you don't need ten thousand hours to become an expert. The hours themselves don't do much. What you need is focused effort. That's what people miss. Just because you're doing something doesn't make you better at it. You need to focus on getting better at it. That's how you get better. You can become an expert, you know, in ten thousand hours too — if you really, really do it. You know, push yourself. And you can still suck after ten thousand hours. That's a common thing people miss from those popular books that popularized the ten-thousand-hour rule. You need focused effort. It's deliberate practice. That's what I wanted to say. Deliberate practice — it's not about the hours. Obviously you need a lot of hours, but just so you know, ten thousand hours doesn't really mean anything if you didn't do deliberate practice. You know how many people haven't been at their jobs forever and they still suck at it, right? Or maybe you know your buddy who's been golfing for twenty years and he's still a really bad golfer — right, because he never put in deliberate practice. So the hours themselves don't mean anything. It's the deliberate practice that's important.”

Lone

18,696 views • 7 months ago

"You and my name" "Together on it with the final curtain call" 🥺 Lee Know and Seungmin always joke around with each other, but it's very obvious how Cinema is an important and special music for both of them, with each performance you can clearly see the emotions on their faces.

"You and my name" "Together on it with the final curtain call" 🥺 Lee Know and Seungmin always joke around with each other, but it's very obvious how Cinema is an important and special music for both of them, with each performance you can clearly see the emotions on their faces.

REST

56,957 views • 11 months ago

MARINA got emotional last night talking to fans about her career: “18 years ago, I signed my record deal on the steps [outside of Ally Pally]… so it feels like an important full circle moment, like I’m closing a cycle tonight with all of you here”

MARINA got emotional last night talking to fans about her career: “18 years ago, I signed my record deal on the steps [outside of Ally Pally]… so it feels like an important full circle moment, like I’m closing a cycle tonight with all of you here”

Pop Base

148,334 views • 4 months ago

One thing I know for sure: if you’re in Zrinka’s circle, she’s got your back.💪 Guys…we had SO much fun recording this one. Hope you love it! 🎧 Listen to the full episode of What’s the Point with Mikaela Shiffrin, Presented by Stifel on YouTube, Spotify and Apple Podcasts!

One thing I know for sure: if you’re in Zrinka’s circle, she’s got your back.💪 Guys…we had SO much fun recording this one. Hope you love it! 🎧 Listen to the full episode of What’s the Point with Mikaela Shiffrin, Presented by Stifel on YouTube, Spotify and Apple Podcasts!

Mikaela Shiffrin ⛷️

12,375 views • 9 months ago

Today we launched a personal AI agent, and published a deep dive on how we built safety into its system. An agent that gets to know you over time necessarily holds a lot of context about you. That's the source of its usefulness and the reason we built Muse to be secure, safe, and private. Read the full deep dive here:

Today we launched a personal AI agent, and published a deep dive on how we built safety into its system. An agent that gets to know you over time necessarily holds a lot of context about you. That's the source of its usefulness and the reason we built Muse to be secure, safe, and private. Read the full deep dive here:

AI at Meta

130,768 views • 27 days ago