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2002 Annual Meeting

How to know when you're in your "circle of competence"

Warren Buffett and Charlie Munger explain how they determine what types of business they can understand and the importance of knowing the "boundaries of your competence."

Sat, May 4 2002 • 1:00 PM EDT
More From 2002 Annual Meeting
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2002 Annual Meeting Highlight Reel
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Morning Session - 2002 Meeting
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Afternoon Session - 2002 Meeting
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How Buffett decides it’s a time to sell a stock
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The effects of 9/11 on Berkshire and the insurance industry
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Buffett and Munger on friendship
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Buffett on the qualities needed to be a great investor
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Coke and Gillette are "inevitable" in their industries
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Buffett on the importance of caring for the body and mind
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Buffett and Munger on expensing stock options