Circle of competence is the safe area that you are competent in. Life is full of quicksands. You must avoid sugars, drugs, temptations, predators, and being overwhelmed. Like weight watchers, you can have healthy foods that are "free" and stay in your circle of competence without much cost to your health and life.
it is the strong swimmers that drown.
Anything huge number multiplied by zero is zero. Raisins mixed with turds are turds and avoid eating them naturally. Stupid, avoid raisins mixed with turds.
it is much easier to stay out of trouble now than to get out of trouble later. w.b. mantra
charlie munger's relative: he only did about 8 things in his lifetime. He started with a small capital, and if something was not a near cinch, he did not do it. he lived well and died rich. i think it is possible for many people to live a life like that where there is little risk of disaster and where they are virtually sure to get ahead in a reasonable amount of time. it takes a lot of judgment, a lot of discipline and an absence of hyperactivity. (So, like Oprah would ask, "how sure are you?" We must judge and do things that are certain to be near cinches. Charlie Munger would shoot through barrels AFTER the water have been drained to get the cinches.)
whoever undertakes to set himself up as a judge of truth and knowledge is shipwrecked by the laughter of the gods. albert einstein. (never underestimate the chance of rare events)