Discover and read the best of Twitter Threads about #CircleOfCompetence
Most recents (2)
Today I'd like to discuss about the mental model "Map is not the territory."
As Charlie Munger says, "The map is not the territory, and if you start thinking that the map is the territory, you will pay a big price for that."
#MentalModel #CharlieMunger
As Charlie Munger says, "The map is not the territory, and if you start thinking that the map is the territory, you will pay a big price for that."
#MentalModel #CharlieMunger
2/ This means that the way we perceive and interpret the world may not always match reality. A map is just a representation of reality and it's important to keep that in mind when making decisions.
#PerceptionVsReality
#PerceptionVsReality
3/ Charlie Munger and Warren Buffet used this mental model to evaluate their investments. They would always look beyond the numbers and do a deep dive into the company's culture, management, and future prospects.
#InvestmentTips
#InvestmentTips
🧵THREAD🧵
I've always wondered about the investing success of Charlie Munger. I don't agree with him in everything he says, especially about #bitcoin. But, I try to learn from his life.
In this thread, you will learn more on Circle of Competence, Charlie Munger's Mental Model
I've always wondered about the investing success of Charlie Munger. I don't agree with him in everything he says, especially about #bitcoin. But, I try to learn from his life.
In this thread, you will learn more on Circle of Competence, Charlie Munger's Mental Model
2/12
Circle of Competence is a mental model introduced by Charlie Munger. Circle of Competence is all about focusing on what you know best and avoiding the rest.
Circle of Competence is a mental model introduced by Charlie Munger. Circle of Competence is all about focusing on what you know best and avoiding the rest.
3/12
According to Charlie Munger, you have to know what you know and what you don't know. Your circle of competence is the area where you have expertise and knowledge. Something you're comfortable explaining to others in plain, simple language.
According to Charlie Munger, you have to know what you know and what you don't know. Your circle of competence is the area where you have expertise and knowledge. Something you're comfortable explaining to others in plain, simple language.
