Berkshire Hathaway Annual Meeting Notes 2014 (著者:CanadianValue, 掲載サイト:Scribd)

<質問者> どうすれば「自分の土俵」がわかりますか。

<バフェット> いい質問ですね。自分のことを現実的にみていますし、ビジネス以外の世界でも当てはまると思います。



<マンガー> 自分の強みを知るのにそんなにかかるとは思いませんね。たとえば身長が160cm弱ならNBA[バスケットボール]は期待できないだろうし、95歳だったらハリウッド映画に出るロマンチックな主役は来ないだろうし、体重が140kgだったらボリショイ・バレエのダンサーもダメでしょうし...。

<バフェット> わたしのやりたいことを全部外しているじゃないですか。

<マンガー> いや、これはおバカさんの相手をするときに役に立つわけです。幸いなことに、そういう場面がたくさんありますから。(p.12)

Q: How does one figure out what one's circle of competence is?

WB: It is a good question. It is a question of being self-realistic, and that applies outside of business as well.

I think Charlie and I have been reasonably good at defining the perimeter of that limit. For myself, I have gone out of that area more often in retail than in other areas. I was outside my circle of competence when I decided to change my plan from selling shares of BRK to buying control, but that ended up working out.

Mrs. Blumkin didn't take BRK stock, which some people might consider a mistake, but it wasn't. She knew what she didn't know. She knew real estate and retail and that took her a long long way.

CM: I don't think it takes that much to figure out competence. If you're 5'2" you probably shouldn't count on the NBA, if you're 95 years old you probably shouldn't count on being the romantic lead in a Hollywood movie, if you're 300 pounds you shouldn't count on dancing in the Bolshoi ballet…

WB: You're ruling out all the things I want to do.

CM: I just knew that it would help to compete against idiots, and luckily there are a lot of them around.

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