Circle of Competence Coffee Mug is our latest creation. Warren Buffett explains Circle of competence as “You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.” This philosophy is now on a coffee mug so that we remember it everyday, and swing at pitches that are within our circle!
Podcaster Shane Parrish elaborates this concept further in his blog, Farnam Street, “Within your circle of competence, you operate with an advantage. As you approach the perimeter (the limitations of your knowledge), your advantage starts to reduce. As you cross the perimeter, not only does your advantage vanish, but it transfers to other people. Suddenly, you find yourself playing in an area where others have an edge. Just because you are good at something doesn’t mean you are good at everything. A Grandmaster in chess is at home on the chessboard, but those skills don’t translate into being competent in other areas of life, such as cooking in the kitchen. In fact, it’s often the case that extreme skills in one area create extreme weaknesses in others.”
Check out our article on Circle of Competence for a full explanation along with examples of Buffett’s investing hits and misses.
– High quality ceramic mug with easy to grip C-handle. Each side of the mug has a unique graphic and quote.
– 2 size options, 11 oz and 15 oz
– Professionally printed by sublimation printing on both sides which doesn’t fade away
– 100% Dishwasher and microwave safe
Get the Circle of Competence Coffee Mug today!
About Tiny Taikun –
We’re a little store that makes unique gifts for fund managers, investors, entrepreneurs, books lovers and Buffett-Munger or Berkshire Hathaway fans. We sell fun stuff like coffee mugs, graphic tshirts, unique hoodies, with quotes or inside-jokes. If you’re looking for a gift for an investment advisor, friend entrepreneur, or a boss who reads a lot, you might find something they’ll actually appreciate.
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