I watched a video yesterday from a Berkshire Hathaway AGM.
Warren Buffett was asked would he do anything different now if he had $1M to invest. Would he take a different approach?
He, as a young man, went through thousands and thousands of pages of a directory called “Moodys” which gave details of small companies all over the United States.
Buffett said that the human brain is hard to figure out and he has seen some tremendously intelligent people doing dumb things in areas of activity outside there area of skill or competence.
He said his skill was not in chess or bridge but in finding investment opportunities going through thousands and thousands of pages of obscure company directories.
He would do the same thing again.
In other words, go to town on the one thing you excel at is what he would do not. You won’t be good at everything.
Good advice.