64: Buffett On Finding Your Circle of Competence; Berkshire's Unique Sales Policy
Finding Your Circle Of Competence
Buffett explains how to determine your circle of competence. On a broad level, “if you’re not sure you understand it, you don’t.” On the other hand you probably understand more businesses than you think.
Protecting Senior Citizens
Warren Buffett and Charlie Munger spend a lot of time thinking about incentives. In this video, Buffett discusses an ABC news program that implied that Kirby (its former vacuum cleaner business) took advantage of senior citizens. He explains the unique policy put in place to protect its older consumers.