Guy Spier & Mohnish Pabrai: Principles For Building Wealth & Wisdom

Last month the fund managers and value investors Guy Spier and Mohnish Pabrai took part in a virtual discussion and Q&A session with the Helvetian Investment Club. The title of the session was "Principles For Building Wealth & Wisdom."

One of the main principles for building wealth is to have a circle of competence and stick within it, no matter what.

Defining the Circle of Competence

Describing what a circle of competence is is difficult because everyone will have a different circle based on their psychology and experiences.

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And the fact of the matter is, most people have a very small circle of competence,...