Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - October 8, 2020

Distinguished Speaker Series
Applied Fundamental Analysis & Worldly Value investing
Professor Arvind Navaratnam

(00:00:00) - Introduction

(00:01:13) - Bull! A history of boom and bust, 1982-2004

(00:01:32) - The Dow (1896-2020)

(00:10:39) - NASDAQ (1971-2020)

(00:13:23) - Nikkei (1970-2020)

(00:14:30) - Kospi (1980-2020)

(00:15:35) - “Old too soon, wise too late”- Charlie Munger

(00:17:45) - NVR business

(00:19:12) - Nick Sleep

(00:22:50) - Extreme undervaluation to extreme overvaluation

(00:23:42) - Great compounder or great carnival

(00:25:54) - Investing failures

(00:26:44) - Valueing a company

(00:32:00) - Retails

(00:40:42) - Where to start?

(00:46:41) - Managing portfolio during pandemic

(00:50:09) - Value investing is not dead

(00:51:07) - Optionality in a business

(00:55:08) - Long runway

(00:57:30) - Identifying moats

(01:00:48) - Opportunity cost

(01:05:00) - Shameless Cloning

(01:09:02) - Pre-investment checklist

(01:11:48) - Investment in IPSCO and Turkey

(01:15:57) - Kelly formula

(01:19:41) - Quality of management team

(01:22:29) - Advise for students