It’s not a competency if you don’t know the edge of it.

What did Charlie Munger mean by:

It’s not a competency if you don’t know the edge of it.

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The quote “It’s not a competency if you don’t know the edge of it” is a profound observation on the nature of skills and knowledge. It suggests that true competence in any field or skill isn’t just about mastering the basics or even becoming highly skilled; it’s about understanding the limits, or the “edge” of that competency.

The “edge” of a competency refers to the boundary or limit of one’s knowledge or skill. It’s the point at which your ability or understanding ends – where you start to encounter things you don’t know or can’t do. According to this quote, if you don’t know where that edge is, you can’t claim to have a true competency in that area.

This concept can be applied in both personal development and in a broader societal context. In personal development, it’s a reminder to be honest with ourselves about our abilities. It’s easy to overestimate our competence, especially in areas we care about or in which we’ve invested a lot of time and effort. However, overestimating our abilities can lead to mistakes, failures, and missed opportunities for learning and growth. By acknowledging the edge of our competency, we can identify areas for improvement, seek out further learning, and continue to develop our skills.

In a broader societal context, this quote can be seen as a critique of the tendency to value confidence over competence. In many areas of life, from business to politics to social media, people who project confidence and certainty are often valued more than those who acknowledge the limits of their knowledge. However, this quote suggests that true competence requires not just skill and knowledge, but an awareness of one’s limitations.

In an era of information overload, where everyone can access and share information on a massive scale, acknowledging the edge of our competency becomes even more important. It’s a call for humility, for the recognition that no matter how much we know or how skilled we are, there’s always more to learn.

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