Alec Hogg: Stick within your circle of competence

A couple months back I picked up my golf clubs after an 11-year break. The "retirement" started with our thoroughbred farming adventure in the matchless KZN Midlands and continued after we returned to Joburg because my two closest pals were no longer around (one died, the other moved to California).

Also read: Alec Hogg: Fiction's restorative benefits

Yesterday was my 10th game back. It's been a joyful return, but also proof that unless you work at it, after a certain age one's golf handicap seems to naturally rise by a shot a year. This wonderful game is also a practical reminder to follow Buffett and Munger's advice of sticking within your circle of competence.

When introducing Charlie Munger ahead of last week's rare interview, the Caltech dean shared a famous quote by the 96-year-old: "It is remarkable how much long term advantage people like us have gotten by trying to be consistently NOT stupid instead of trying to be very intelligent.'

___STEADY_PAYWALL___