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Circle Of Competence
A circle of competence is the subject area which matches a person's skills or expert, expertise. The concept was developed by Warren Buffett and Charlie Munger as what they call a mental model, a codified form of business acumen, concerning the investment strategy of limiting one's investment, financial investments in areas where an individual may have limited understanding or experience, while concentrating in areas where one has the greatest familiarity. The strategy emphasizes the importance of aligning one's subjective assessment with actual competence. Buffett summarized the concept in the motto, "Know your circle of competence, and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital." In his 1996 letter to Berkshire Hathaway, Buffett further expanded: What an investor needs is the ability to correctly evaluate selected businesses. Note that word 'selected': You don't have to be an expert on every company, or even many. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Circle Of Competence
A circle of competence is the subject area which matches a person's skills or expert, expertise. The concept was developed by Warren Buffett and Charlie Munger as what they call a mental model, a codified form of business acumen, concerning the investment strategy of limiting one's investment, financial investments in areas where an individual may have limited understanding or experience, while concentrating in areas where one has the greatest familiarity. The strategy emphasizes the importance of aligning one's subjective assessment with actual competence. Buffett summarized the concept in the motto, "Know your circle of competence, and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital." In his 1996 letter to Berkshire Hathaway, Buffett further expanded: What an investor needs is the ability to correctly evaluate selected businesses. Note that word 'selected': You don't have to be an expert on every company, or even many. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Carnegie
Andrew Carnegie (, ; November 25, 1835August 11, 1919) was a Scottish-American industrialist and philanthropist. Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans in history. He became a leading philanthropist in the United States, Great Britain, and the British Empire. During the last 18 years of his life, he gave away around $350 million (roughly $ billion in ), almost 90 percent of his fortune, to charities, foundations and universities. His 1889 article proclaiming " The Gospel of Wealth" called on the rich to use their wealth to improve society, expressed support for progressive taxation and an estate tax, and stimulated a wave of philanthropy. Carnegie was born in Dunfermline, Scotland, and emigrated to Pittsburgh with his parents in 1848 at age 12. Carnegie started work as a telegrapher, and by the 1860s had investments in railroads, railroad sleeping cars, bridges, and oil derricks. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is to generate a return from the invested asset. The return may consist of a gain (profit) or a loss realized from the sale of a property or an investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, or rental income, or a combination of capital gain and income. The return may also include currency gains or losses due to changes in the foreign currency exchange rates. Investors generally expect higher returns from riskier investments. When a low-risk investment is made, the return is also generally low. Similarly, high risk comes with a chance of high losses. Investors, particularly novices, are often advised to diversify their portfolio. Diversification has the statistical effec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Wiley & Sons
John Wiley & Sons, Inc., commonly known as Wiley (), is an American multinational publishing company founded in 1807 that focuses on academic publishing and instructional materials. The company produces books, journals, and encyclopedias, in print and electronically, as well as online products and services, training materials, and educational materials for undergraduate, graduate, and continuing education students. History The company was established in 1807 when Charles Wiley opened a print shop in Manhattan. The company was the publisher of 19th century American literary figures like James Fenimore Cooper, Washington Irving, Herman Melville, and Edgar Allan Poe, as well as of legal, religious, and other non-fiction titles. The firm took its current name in 1865. Wiley later shifted its focus to scientific, technical, and engineering subject areas, abandoning its literary interests. Wiley's son John (born in Flatbush, New York, October 4, 1808; died in East Orange, New Je ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profession
A profession is a field of work that has been successfully ''professionalized''. It can be defined as a disciplined group of individuals, '' professionals'', who adhere to ethical standards and who hold themselves out as, and are accepted by the public as possessing special knowledge and skills in a widely recognised body of learning derived from research, education and training at a high level, and who are prepared to apply this knowledge and exercise these skills in the interest of others. Professional occupations are founded upon specialized educational training, the purpose of which is to supply disinterested objective counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain. Medieval and early modern tradition recognized only three professions: divinity, medicine, and law,Perks, R.W.(1993): ''Accounting and Society''. Chapman & Hall (London); . p.2. which were called the learned professions. A profession ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, reality shows, and other programs at all other times. Along with Fox Business and Bloomberg Television, it is one of the three major business news channels. It also operates a website and mobile apps, whereby users can watch the channel via streaming media, and which provide some content that is only accessible to paid subscribers. CNBC content is available on demand on smart speakers including Amazon Echo devices with Amazon Alexa, Google Home and app devices with Google Assistant, and on Apple Siri voice interfaces including iPhones. Many CNBC TV shows are available as podcasts for on-demand listening. Graphics are designed by Sweden-based Magoo 3D studios. CNBC is a divisi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institutional Investors
An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked companies, insurers, pension funds, sovereign wealth funds, charities, hedge funds, REITs, investment advisors, endowments, and mutual funds. Operating companies which invest excess capital in these types of assets may also be included in the term. Activist institutional investors may also influence corporate governance by exercising voting rights in their investments. In 2019, the world's top 500 asset managers collectively managed $104.4 trillion in Assets under Management (AuM). Although institutional investors appear to be more sophisticated than retail investors, it remains unclear if professional active investment managers can reliably enhance risk-adjusted returns by an amount that exceeds fees and expenses of investment management, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steel
Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistant typically need an additional 11% chromium. Because of its high tensile strength and low cost, steel is used in buildings, infrastructure, tools, ships, trains, cars, machines, electrical appliances, weapons, and rockets. Iron is the base metal of steel. Depending on the temperature, it can take two crystalline forms (allotropic forms): body-centred cubic and face-centred cubic. The interaction of the allotropes of iron with the alloying elements, primarily carbon, gives steel and cast iron their range of unique properties. In pure iron, the crystal structure has relatively little resistance to the iron atoms slipping past one another, and so pure iron is quite ductile, or soft and easily formed. In steel, small amounts of carbon, other ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iron
Iron () is a chemical element with symbol Fe (from la, ferrum) and atomic number 26. It is a metal that belongs to the first transition series and group 8 of the periodic table. It is, by mass, the most common element on Earth, right in front of oxygen (32.1% and 30.1%, respectively), forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust. In its metallic state, iron is rare in the Earth's crust, limited mainly to deposition by meteorites. Iron ores, by contrast, are among the most abundant in the Earth's crust, although extracting usable metal from them requires kilns or furnaces capable of reaching or higher, about higher than that required to smelt copper. Humans started to master that process in Eurasia during the 2nd millennium BCE and the use of iron tools and weapons began to displace copper alloys, in some regions, only around 1200 BCE. That event is considered the transition from the Bronze Age to the Iron A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Naresuan University
Naresuan University (NU) ( th, มหาวิทยาลัยนเรศวร, ) is a government university in Phitsanulok Province, northern Thailand. It was established as a separate university on 29 July 1990, the 400th anniversary of the start of the reign of Phitsanulok-born King Naresuan the Great. A courtyard with a statue of King Naresuan is on the campus grounds and students regularly pay their respects before it. The university has about 20,000 full-time students. History On 18 January 1964, the Ministry of Education resolved to create branches of the Bangkok's College of Education in each region of the country. On 25 January 1967, the Phitsanulok campus was established as the fourth branch of the College of Education and was meant to serve mainly the northern provinces. In 1974 the College of Education was upgraded to university status and was named Srinakharinwirot University. Originally, only the third and fourth years of university study were offered at Phits ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Skill
A skill is the learned ability to act with determined results with good execution often within a given amount of time, energy, or both. Skills can often be divided into domain-general and domain-specific skills. For example, in the domain of work, some general skills would include time management, teamwork and leadership, self-motivation and others, whereas domain-specific skills would be used only for a certain job. Skill usually requires certain environmental stimuli and situations to assess the level of skill being shown and used. A skill may be called an art when it represents a body of knowledge or branch of learning, as in ''the art of medicine'' or ''the art of war''. Although the arts are also skills, there are many skills that form an art but have no connection to the fine arts. People need a broad range of skills to contribute to the modern economy. A joint ASTD and U.S. Department of Labor study showed that through technology, the workplace is changing, and identif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berkshire Hathaway
Berkshire Hathaway Inc. () is an American Multinational corporation, multinational conglomerate (company), conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from which it invests the float (the retained premiums) in a broad portfolio of subsidiaries, equity positions and other securities. The company has been overseen since 1965 by its chairman and CEO Warren Buffett and (since 1978) vice chairman Charlie Munger, who are known for their advocacy of value investing principles. Under their direction, the company's book value has grown at an average rate of 20%, compared to about 10% from the S&P 500 index with dividends included over the same period, while employing large amounts of capital and minimal debt. The company's insurance brands include auto insurer GEICO and reinsurance firm General Re. Its non-insurance subsidiaries operate in diverse sectors such as confectionery, retail, Rail transport, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
