The Smartest Side To Take In A

I Want To Be Able To Explain My Mistakes. This Means I Do Only The Things I Completely Understand.

If You Understood A Business Perfectly And The Future Of The Business, You Would Need Very Little In The Way Of A Margin Of Safety. So, The More Vulnerable The Business Is, Assuming You Still Want To Invest In It, The Larger Margin Of Safety You'd Need. If You're Driving A Truck Across A Bridge That Says It Holds 10,000 Pounds And You've Got A 9,800 Pound Vehicle, If The Bridge Is 6 Inches Above The Crevice It Covers, You May Feel Okay, But If It's Over The Grand Canyon, You May Feel You Want A Little Larger Margin Of Safety.

Personally, I Really Hope I Can Treat Everyone Equally. I Think I Have Done A Pretty Good Job So Far But I Know I Can Do It Better.

The Most Important Thing In Terms Of Your Circle Of Competence Is Not How Large The Area Of It Is, But How Well You've Defined The Perimeter.

It's A Lot Easier To Buy Things Than It Is To Sell Them.