Blog Episode 12: Stages of Competence for Trading & Beyond

Podcast: Play in new window | Download (Duration: 1:02:48 — 86.3MB)

In this episode of The Wall Street Coach Podcast Kim and Lucas discuss learning anything new using the four stages of competence model, as well as understanding one’s own competence by gauging one’s circle of competence. Noel Burch is widely credited with creating and first utilizing the four stages of competence model. The circle of competence model was developed by Warren Buffett and Charlie Munger and Kim experienced it when she did the Landmark Forum.

References and Mentions:

Stanford Blog – How We Learn Anything New, and the Importance of Focusing on Practice https://swsblog.stanford.edu/blog/how-we-learn-anything-new-and-importance-focusing-practice

Sahil Bloom Twitter Thread on the Circle of Competence

Circle of Competence 101

Warren Buffett and Charlie Munger often reference the importance of knowing the boundaries of your circle of competence.

But what is a Circle of Competence and how does it work?

Here's Circle of Competence 101! pic.twitter.com/KCLwyczlx8

— Sahil Bloom (@SahilBloom) January 6, 2021

Becoming Warren Buffet

https://www.imdb.com/title/tt6438096/

Eckhart Tolle – The Power of Now: A Guide to Spiritual Enlightenment

Adyashanti – Falling Into Grace

https://www.adyashanti.org/store/publications/books/falling-into-grace-535

Byron Katie

Jed McKenna – From a Spiritual Master Unlike Any, A Spiritual Masterpiece Like No Other

https://www.wisefoolpress.com/damnedest/

Cindy Wigglesworth – Deep Change

https://www.deepchange.com/about/cindy_wigglesworth

Sadhguru

https://isha.sadhguru.org/us/en

Arthur Miller – After the Fall quote

http://www.elise.com/q/quotes/arthurmiller.htm

Brene Brown https://brenebrown.com/books-audio/

The Mask You Live In

http://therepresentationproject.org/film/the-mask-you-live-in-film/