Today we’re taking a new look at one of Warren Buffett’s most quoted lines: “Never invest in a business you cannot understand.”

While we wholeheartedly agree with the Oracle of Omaha, we think there’s a key, misplaced assumption investors make when applying this old adage. The assumption is that what we can “understand” is static and we either get the business in front of us or we don’t.

In today’s podcast, Will McGuire points out a more dynamic way of looking at investing: start with curiosity and learning, then approach investing with your newfound knowledge.

But before you get overwhelmed at the thought of combing through complex financials and analyzing global competitiveness, remember, we’re talking about small businesses in your backyard.

Buffett’s advice is about what can be known, not what is known today. So while these business models or concepts might be new to you, if you’re looking to invest in what you know, start digging deeper into the ideas that interest you.

Curiosity might have killed the cat, but as an investor, it unlocks a whole new world of investment opportunity in a community begging to be shaped by you.