Here's Why I Haven't Bought SpaceX Stock and Probably Never Will

Space Exploration Technologies (NASDAQ: SPCX), commonly referred to as SpaceX, is a hot stock these days, and it's even up  25% over the past three months as of Oct. 22. You might want to buy some shares, but I don't think I ever will, for a variety of reasons. My main reason is that I don't sufficiently understand the company.

One of my heroes is Warren Buffett -- who's famous for staying within his "circle of competence" -- meaning he steers clear of stocks that he doesn't fully understand. I am not always good at following this advice, but with SpaceX, I do.

Image source: The Motley Fool.

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