Premium: Understand your circle of competence – especially when investing

We've enjoyed an excellent run with the BizNews share portfolio which has compounded at over 20% pa since launching seven years ago. The new $10,000 BizNews Shyft portfolio is off to a good start with Wall Street rebounding powerfully last night. Mainly because, as we've suggested, investors elsewhere have woken up to the reality of Omicron after at first rejecting powerful evidence from SA (see above)..Which makes the story below from our partners at The Wall Street Journal perfectly timed: a financial journalist 'fessing up to stock picking mistakes born of hubris. It is easy to overreach, especially after a good run. Which is the reason Warren Buffett urges us to trumpet failures and speak softly about our successes. And why Nassim Taleb wrote a masterpiece that urged us to avoid being Fooled By Randomness..A few years ago EasyEquities made it possible for the BizNews tribe to buy directly into our offshore share portfolio and a local option we called SA Global Champions. It wasn't long before many millions had been invested – and, as they should, financial advisors started asking me for Fact Sheets to answer questions from clients. That was my signal to withdraw. I had unwittingly strayed outside my circle of competence..___STEADY_PAYWALL___.While a career in financial journalism has supported my entrepreneurial endeavours, managing money is a different ballgame (ask Magnus Heystek). I chose to stay with my passion. And as explained in our Year in Review, the BizNews portfolios and webinar updates, are designed to help you learn about the 99.5% of investible assets outside SA's borders. They're an educational tool. Not a follow-blindly-and-get-rich elixir. Because as Warren Buffett also told us: The best investment you can ever make is in yourself..More for you to read today:.* We're Cursing More. Blame the #%$ Pandemic. Stress, the erosion of boundaries between personal and professional, and an exhausted slide toward casualness have created a perfect storm for swearing.* Netflix to launch PGA Tour docuseries offering inside look at life on Tour. Missed this when it was first published but well worth a read given the company's next Big Idea's first extension from F1..* Elon Musk Says He Will Pay More Than $11 Billion in Taxes This Year. Tesla CEO and world's richest person makes tax disclosure on Twitter.NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com.If you'd like to help sustain our independent voice, why not share the love by making a gift that keeps giving? Click here to access the BizNews Premium subscription signup form, and be sure tick the relevant box (see below). At R100 a month and inclusive of full membership of The Wall Street Journal, it's a mind-expanding gift at an incredibly modest price.

Premium: Understand your circle of competence – especially when investing

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