Understanding Circle of Competence In Investing - Warren Buffett examined

[@Comeinforyoursoup]

Dave congratulations on 100k subscribers. Well deserved!

[@kimlim3018]

@Dave lee Investing not true one

[@gridcoregilry666]

The value you provide with these videos is simply 100x. Thank you for sharing your ideas and insights. Love from Germany

[@usmanqadri7921]

This channel is so underrated. Thank you Dave for being so eloquent and concise when explaining very big ideas! Also congrats on the 100k!

[@gimd1537]

Dave, LOVE your concept/description/moniker: "mob investing". You have "hit the [proverbial] nail on the head". That is EXACTLY what is going on in the market; I am GUILTY of this myself last few months and I fully appreciate your goal of going/exploring/investigating beyond the surface and digging deeper into financials/the big pic/etc. You have been INVALUABLE in helping me understand the world that Tesla is operating in. CONGRATS on the 100k subscribers; we will be with you forever!

[@hereislight]

Made a mistake to delete the prev comment because of my fat fingers lol. thankfully youtube has a receipt of my comment! Your videos are always the best. I honestly much prefer your solo videos than your interviews (I would love to have both though!) Thank you Dave. Some takeaways for myself: 5:58 "What is the CEO or founder seeing that others aren't seeing?" 15:04 "Rather, seek out high-level concepts to understand what's going on." 17:55 To learn these concepts outside your circle of competence: "Find a person who is super clear and go as deep as that person can take you" 19:39 On how to read quickly: "Try to find a trunk (main argument) and branches (main sub-arguments) of that truck asap" 22:03 "Understand the human-side & economic side of technology to outweigh any weaknesses you have on technology" 23:15 Crossing the chasm: mainstream consumers want simple things, not necessarily the most technologically advanced products. 23:58 A great edge in joining your ability with tech and ability with human & business side

[@cal616]

Congrats 🥳 Dave for 100k subscribers! You are one of my favourite KZbinrs!! Learn so much from you because you always try your best to deep dive into a topic with all different angles and as less bias as possible! Love it!! Please keep doing what you do because you have impacted so many people’s life in a good way!

[@Dave_Lee]

Thanks so much!

[@srim8375]

Congrats Dave on crossing 100k subscribers. I had joined when it was less than 30k and wondered why it was so low! Glad that you are now reaching out to so many more people and sharing your beautiful thoughts, views and analysis. I am sure you will cross 1 million before end 2022

[@ah64Dcoming4U]

Dave, I've just got into watching your videos. Ones like this make me happy. Much gratitude. Thank you.

[@GioDoesLogic]

This is why I subscribed. For a deeper lever of thinking. 😎

[@scottcorney3633]

This is excellent Dave! When I was listening to part one I was hoping you were going to speak about the adaptation process. As long as you see and understand the outcome you don’t necessarily have to be able to nail the process on a personal level. I think that you always have to learn what has extreme importance. I am trying to learn as much as I can about blockchain but it’s way out of my zone. If it doesn’t complement your skill set and your inner strengths then it isn’t worth focusing on if it doesn’t have a great detail of importance. It may be worth having a bit of knowledge but certainly not a great deal. You are amazing. Wow I would love to look at your speed reading techniques! I actually touched on this on a course. I learned that there’s only about 5-10% of the book that actually has value. I go through it and then I pick out which paragraphs I would like to read. It’s amazing because I am not born a reader. I only ever finished one book. This strategy allowed me to comfortably get through about 30 in the space of six months.

[@jackthecanuck6736]

Dave, thanks so much for this. Clarity & context lead to control. What a great way to look at technology, from both sides. It makes things so much easier.

[@BrutisBB]

Light bulb turned on. Circle of Competence. Your video made me realize why I have been able to understand Tesla and see the future of Tesla more quickly than others. It's like my entire life has prepared me to invest in Tesla. This starts with my early interest in and education transportation engineering coupled with working with my dad doing construction. Then came a career focused on managing large projects in the public sector. Real estate investments taught me about leverage. Some work experience taught me how to uncover fraud. Investing in Micron/Intel options taught me not only options but corporate finances and computers. Overall my problem-solving ability taught me how to understand Elon. No wonder I was able to 50X over the last year with so many aspects related to Tesla inside my circle of competence.

[@agsmith001]

Thanks Dave, I am glad I found your channel. I think about Circle of Competence a lot as an investor in terms of know what you own. How can you know what you own and still be diversified? I think it starts with: don't pretend to know what you do not know and go from there.

[@MC-ds4kp]

Thanks for this video Dave! I find it very helpful to hear about a person's background, mindset, experiences that led up to a person's success. It provides clues and context behind why the light bulb moment went off in 2008 when the app store was announced and why you saw it as an opportunity when others would have passed it by. Congrats on 100k!

[@yi1zhao]

Dave, I’ve been practicing this way of reading and it’s amazing how well it works with just a bit of practice. Thank you!

[@Dave_Lee]

Great to hear

[@sajithr]

Great video...have been enjoying a lot of your videos...you and Tesla Daily have been two of the most thoughtful streams I listen to on here

[@Olmirz]

You're insight about not blaming yourself if you don't understand is 👌 it reminds me of my lean engineering lecturer: "if the learner hasn't learnt, the teacher hasn't taught". Needless to say he was the best teacher I ever had! Unfortunately this was taught to me in my final year of uni... Not when I started school 😂 hence why it's great to hear you sharing it

[@vtthesuccessfinder]

I am so appreciative of the way you always put things in ways even the novice can understand. Thanks for having such a high level of thinking while bringing it to beginners 🙏🏻

[@Dave_Lee]

Happy to help!

[@MapAtlass]

Staying within your circle of competence is vital for successful long term investing 💪

[@calvinlow2]

I think the corollary is that enlarging your circle of competence is vital as well.

[@susanrosegale6646]

This was really helpful Dave, it made me realize what it is that "clicks" when I am listening to others, online, in business or personal...it is that clarity a person provides when they know, what they know and you know it.

[@dennisfoster1680]

Another great video Dave. Thanks so much for sharing your thoughts and providing insights and examples on these important concepts and hacks. I always recommend your channel to my friends and colleagues. Cheers!

[@veizagajp]

I love hearing what i have been doing without knowing thats what ive been doing :) thank you Dave for putting context into how many of us are flowing naturally but domt have the investment background to articulate what we're doing. Keep up the great work, amigo!

[@Casgains]

Congrats on 100k, Dave!

[@Dave_Lee]

Thanks!

[@rb-qc1fn]

Congratulations, Dave, on the 100,000 subscription count! It’s so nice to see you getting this great exposure.

[@Dave_Lee]

Thanks

[@ninaza4693]

Dave, congrats on 100k subscribers! lets hope for the 200k and definitely much more. you are one of the best!

[@hxyu3417]

Dave I want to say thank you. I tried fast reading tonight and finished a book that I spent last couple of months only read less half of it. Although I still spent 2 hours for the rest half, it was a very good start. And yes, I found it exciting by quickly grasping the trunk of the book and this converts to the motivations of continuing reading. Thanks again!

[@shawn1260]

Your channel is the best on KZbin!

[@ZZ-gz2ts]

Not much a fan of your Tesla videos, but your investment philosophy and framework videos are so valuable to me, thank you Dave.

[@grimthegreat8832]

Thank you for another great vid Dave and congratulations 🎊 on 100k!!!

[@Dave_Lee]

Thank you too!

[@BrandonsRandoms]

do you have any good youtube videos you recommend to help us understand AI better? thanks

[@Dave_Lee]

Got to understand neural nets. Start by typing in "What is a neural net?" into KZbin and keep watching short videos until you get it. If a video is too complex to understand, skip it.

[@raarora1]

Dave, Congrats on 100k subs. Very well deserved. Next 100k will be much sooner.

[@nikiwee]

Thanks for always making everything so much easier to understand, Dave! Here’s to doubling that 100K subscriber base in no time! 👏

[@pnnedbyRabbiSimonJacobson]

A financial crisis is a great time for professional investors and a horrible time for average ones.

[@BBC....]

Don't Save, invest. Investment is the best way of making riches . You can secure it also for your generations.

[@robertwyatt3260]

Bitcoin is so real. I started the program last month and the outcome has been great so far

[@sirus312]

buffett got shook during RONA. just shows you that not everyone is great.

[@TCTerribleDog]

Yes, but few would. I invested all my net worth during 2008-9 downturn in real estate plus leverage (mortgage). Everyone thought I was crazy. The return is great.

[@rinomaffeo864]

excellent .I tought speed reading too many years ago..! Very productive skill..! I still use it today, I found students almost automatically tended to concentrate on the trunk as you say. I am really enjoying your channel.

[@truebluefish1721]

Thanks for all you do, sharing your knowledge and frankly keeping us grounded through all this.

[@sunnyram7332]

Great job Dave, congrats on 100k subscribers.

[@isaactan1870]

Hoping for you to write a book on your mental models or principles Dave! Congrats on the 100K subs!

[@stefanexplores]

Congratulations on 100k subs, my man :)

[@neckie-y7f]

It’s true to say people who understands a topic in depth can explain it in a very simple way

[@thecoachhousemadeira]

100K! Well Done Dave! Thanks for the great content!!

[@eaviram]

Thank you Dave. Love these varied videos for those of us that don't own Tesla and don't plan to pick it up at these prices. Do you have some specific sources that you like for learning about A.I. and Neural Networks to start with?

[@adamduhamel5396]

See Lex Fridman. Early videos are on the basics of neural networks and deep learning. Watch many of his podcasts on AI to dive deeper into the subject. When they say something you don’t understand, pause the video and google it. Keep doing this and also read books on the basics of AI.

[@dhirandookhi5624]

Congrats on 100k and great insights as usual! Biotech is the sector I'm going to focus on gaining a better understanding of

[@attilaontheworld2793]

Wow, a great video. It came just at the right time for me. I was just thinking about biotech, and how it is a great opportunity with big potential, but I was never good at biology, I have never understood it. I will try to understand the basic concepts of biology now. I also experimented with your reading method, I have read 70 + books since your “tutorial” video came out, I try to read one book every day. I usually finish around 1 / 1 and a half hours a book, depending on how interesting it is. It changed my life; I know a lot about topics I have never heard before. Any books on AI or Biology that you could recommend?

[@WilliamWen]

I like ur analogy on coding. My background is the opposite, tech and not finance. I think macro level understanding of topics and companies has been more important than crunching numbers in a spreadsheet. This has served me well holding Tesla over the years.

[@emibw]

Thank you so much for your excellent content Dave! Have you come across Mike Green (not Burry) and his arguments about an index fund bubble? I would be interested to hear what you think of the arguments for and probabilities of a possible index fund bubble.

[@ravimalde1372]

Dave, love your content! Would be awesome if you could do another video sharing your thoughts on LMND now that we are at all time highs. Thank you

[@MyDarkMuffin]

As a person who has only been investing for a bit longer than a year, I've also quickly found how useful it can actually be if you can figure out if a person knows what they're talking about, you can't and won't understand everything, but if you can figure out if someone knows pretty much everything about a specific subject then you're pretty much golden.

[@LunarNebulae]

Love that you mentioned “crossing the chasm” - I’m reading a book now by that title written by Geoffrey Moore

[@joekim4345]

Dave's story reminds me of the book Outliers by Malcolm Gladwell- book of success stories and describing how your environment growing up can greatly influence the trajectory of one's life. However, it does not mean that if you didn't have the best environment or upbringing, that failure is guaranteed. Certainly we know of many who overcame great challenges to be phenomenally successful. Not mentioned here but at least financially Dave didn't hit monetary success until his mid to late 30s. But rather the cumulative experiences shaped and honed his decision making and pursuits to bring him where he is today as a tesla investor, youtuber, student of life (one can argue). Likewise, it's never too late to get on the right path of success. Past failures or successes matter less than what you do TODAY and what goals you set for tomorrow!

[@0007saji]

👍👍👍 Congratulations for the new Mile stone !! lots more to go 💪💪💪 This is priceless, you cant even learn such things in universities .

[@chillwithmari]

Hi 👋 Dave!! Thanks for sharing, always love your videos. And I'm glad your channel has grown so fast! I started watching when it was still 70k subs a few months ago and now u just hit 100k!! Thanks for adding value to our knowledge and wisdom ;)

[@jimcallahan448]

Thank you Dave for your video it was very thought provoking. The problem that I have as an investor with Circle of Competence is Diversification. Like you, I am comfortable in tech; it is the rest of the economy I have trouble understanding. In order to achieve diversification I tried investing in a pharamaceutical company and an auto company, but both were outside my circle of competence (did OK wiith the pharma, not so well with the Tesla ICE competitor). Warren Buffet feels comfortable with GEICO insurance. Great, but to be honest without doing research I have no idea what GEICO's market share is compared with its well advertised competitors Liberty Mutual and Progressive, let alone what its competitive advantages are or what moat it might possess. On the other hand I would feel competent discussing Intel v. AMD v. ARM. Now I could (and have) analyzed Harvard Business School case studies (I have an MBA), but those case studies spoon feed you the relevant information and a good professor should have been teaching the relevant concepts to understand the case study. But, in the real world it is harder to accumulate the industry knowlege and at the appropriate concepts to apply (that's one more reason why I have respect for Cathie Wood). Absent tracking 30 different industries, the rest of mere mortals may invest in mutual funds for diversification and the do informed speculation on a smaller scale in our circle of competence.

[@treycarterheadcoach9188]

Dave, super enjoying your content!

[@stoor79]

Great knowledge and 100k subscribers! Congrats!

[@kelleycaptain73]

Great Job Dave! Thanks so much!

[@Pkoth5227]

Wonderful information. Thank you for sharing!

[@moneykaile]

In Dave(AI) we trust! ❤ Love your videos and will be a lifelong viewer. I have recommended your channel to many people. What are your thoughts on EHang!?!

[@avasolaris1]

Great stuff as usual Dave. Thanks for your time

[@LiguoKong]

Great advice, Dave. Have learned so much from your channel.

[@rlc2978]

I'm starting to really dig deep into the essence of my weekly grocery list* focusing on the items that I really need instead of the ones that end up spoiling... *I mean portfolio.. 🙏👍

[@DontNeedToKnow84]

Hey Dave. Great vid. Been following you since you first started covering TSLA. Question: What allowed you to attain that high-level, first-principles thinking/methodology? Some of my friends who work for MBB say management consulting texts really helped them arrive at that way of thinking. Is there anything you recommend? Any texts? Your insight here would be much appreciated.

[@thucvunguyen1897]

Thanks Dave. You have inspired me to better myself in learning many new subjects

[@Dave_Lee]

Great to hear!

[@teslasummoned4434]

Great video Dave, I resonated with how you spoke about finding the right teacher for yourself. Your video with James Douma about Tesla AI did that for me.

[@Dave_Lee]

Glad it was helpful!

[@MiguelRodriguezGarcia]

Great series of videos Dave

[@kevindavidson1896]

big fan Dave! Recommendations for youtube videos or other sources that helped you understand machine learning? thanks!

[@kdotansah]

Dave, I'm very interested in looking into the AI sector. I'm wondering if you know any competent AI companies you could cover in your upcoming videos? Thanks

[@m9017t]

Great insight, thanks Dave

[@darknite84]

congrats Dave on 100k. Can you make more videos on Starlink? it seems like they are riped for IPO soon

[@macadood]

Would love to know which apps you have put out. Congrats on the 100k, big milestone!

[@jeremyPieLover]

Congrats on 100k subs Dave!!! Love your content!

[@workwpassion]

Deeper level of thinking! 👍👍👍

[@ethanchen1901]

Great Video Dave, more like this please!

[@likemysnopp]

Congrats on 100 000 subs!

[@JackpotJKO]

Thanks for sharing your knowledge Dave.

[@jameshoffman552]

Learning to code in C (essentially a high level machine language) was one of my most rewarding projects.

[@samuelCWM]

hey Dave, congrats on 100k!! would be interested to hear your thoughts on NIO haha

[@happypeter1983]

Achieve a deeper understanding of the following things does help to build my own circle of competence: - network effects in business - economy of scale - the power of computation - the power of big data - the power of automation - ignore short term news, all in first principles

[@Стеван_Синђелић_1771]

Dave should consider writing a book kind of like Gali did, you have a lot of insightful things to say.

[@kurthui]

Hi, Dave, thanks again for this great video! Could you share some great sources to better understand earnings report and financial statement of a company.

[@archie_cameron10]

really helpful stuff thanks Dave

[@Dave_Lee]

Happy to help

[@jm821]

Excellent Video! Thank you

[@jagadishvemugunta6795]

Learning a lot from you Dave. Thank you very much

[@zblus]

I curious what you mean by "I hated the essence of coding" 11:50. Because I my current degree is in software but I'm also growing a "hate" for it...

[@bobrenner67]

Extremely well done 👍

[@c.p.1090]

Congrats Dave. Awesome work.

[@Dave_Lee]

Thanks 👍

[@Charles-in5xg]

More vids like this plz. Awesome stuff Dave!

[@YouT-DJ]

Sage advice. Stick with things you know or understand

[@curtisdavis8594]

Good topic for all new Robinhood traders.. Thanks, Dave!

[@islammohamed1441]

Khan Academy, Wikipedia, and KZbin are a boon to humanity for sources to understand novel concepts. Find quality sources, skim the surface first, dive deeper as your learning grows. Ignorance is lazy and inexcusable. As long as you are curious, persistent, and attentive, knowledge is yours for the taking. Understand that you are forever a student. Humble yourself and learn.

[@susan1144]

Impressive as always !

[@adirox]

That instant of judgment is what the whole book Blink is about. Some call it gut feeling. It's not random at all. It is based on your inner evolution based on conscious and sub-subconscious knowledge and experience.

[@jessicakirsh]

Great video!

[@stefanexplores]

Important to deeply understand what you invest in.

[@Revouz]

Indeed

[@marcel5125]

Lol, I expected to read one of those scam comment chains 😅

[@xxxxxxyyyyyyyyymmmmm]

or listen to dave XD

[@yonatanofek4424]

Brave and beautiful message! I concur!

[@mirandal.4932]

Hey Dave, have you looked into Palantir? The CEO has a very unique perspective, worth looking into. Has big potential in the AI field

[@champoux3000]

Another way of saying it is that being an investor is kinda like being a futurist or someone with extreme situational awareness prohaps?

[@TheHumanSpirit]

Btw...I love your stream-of-consciousness videos. Gold.

[@angelohunter5329]

love these investing philosophy videos dave! Thanks heaps :)

[@teamantleraddicts]

love your channel!