ภาษานักลงทุนวันละคำ Circle of Competence

[NinjaTurtle]

Circle of Competence ขอบเขตความรู้? ตกลงมันคืออะไรกันเนี่ยเห็นอยู่ใน ลายเซ็นของบางท่าน ช่วยขยายความหน่อยสิครับ

[Accidental Hero]

Circle Of Competence
Buffetts mental representation of the universe in which he operates is synthesized in his Circle of Competence, depicted below.


Warren Buffett filters the universe in which he manages capital down to the important and knowable. His preference is to make the preponderance of his capital management decisions in this realm and it is on the basis of the enlightenment which his Circle of Competence conveys upon his cognition that he seeks to make all of his capital management decisions.

The Circle of Competence is designed to:

Maximize objectivity in decision making,
Reduce subjectivity, and
Deliver the emotional stability which is vital to the quality of forward looking decisions.
The construction of Warren Buffetts Circle of Competence is expounded upon at length in The Real Warren Buffett. The end product allows Buffett to allocate capital where he sees fit, when he sees fit and at the pace he sees fit. He does so in opportunities which he can qualify as such and which he is able to evaluate. The accuracy of his cognition is enhanced and his capital management enlightened.

As much as this model is made available to everyone, its inverse the Circle of Illusory Competence - has to be avoided. The Circle of Illusory Competence is:

A construct of the psychology and emotion of poor decision,
Persuades practitioners that they know the important yet unknowable, and
Is robust to disappointment.

หามาได้ แต่แปลไม่ค่อยได้ครับ  :oops: