Mohnish Pabrai Lecture at Boston College
Distinguished Speaker Series Professor Arvind Navaratnam October 14, 2021 (00:00:00) - Introduction (00:02:04) - Competition is For Losers, Peter Thiel (00:08:25) - Rain Industries (00:12:39) - Monopolistic business models, Amazon and Google (00:17:14) - Redoing the Spaghetti code, AWS in business (00:19:09) - A Whale only gets harpooned only when it surfaces, Warren Buffett (00:20:00) - AWS, cloning by Microsoft and Google (00:24:15) - Monopolistic characteristics of giant Chinese tech companies (00:28:19) - Tencent (under)reporting style (00:30:24) - Naspers business model, Koos Bekker (00:40:58) - Better capital allocation by Amazon and Tencent (00:43:37) - Tencent business model (00:50:24) - The bazooka Model of Pony Ma (00:57:33) - How I became a value investor (01:02:22) - Chinese tech giants and political risk (01:03:16) - Dakshana Foundation’s Education Model (01:09:01) - Evolution of my investing style (01:12:58) - Mohnish’s investing framework on start-ups (01:17:31) - Ali Baba (01:23:18) - Competence and edge (01:24:54) - Change in Investment strategy due to Covid (01:37:50) - Application of NLP (Natural Language Processing) in investing (01:45:10) - Up and comers in the investment sector (01:47:40) - Quality of Management (01:50:29) - Book recommendations
26 Jan 20231h 55min
Ramesh Damani & Mohnish Pabrai Q&A with Millennium Mams' - May 8, 2020
Ramesh Damani (Chairman of Avenue Supermarts) and Mohnish Pabrai’s Q&A session with Millennium Mams.’ Millennium Mams' is a Kolkata-based non-profit organization dedicated to empowering women through financial literacy. (00:00:00) - Introduction (00:09:32) - Economic recovery post-Pandemic (00:15:30) - My Heroes in Life (00:23:28) - Learnings from Buffett and Munger (00:27:48) - Li Lu’s Journey (00:35:48) - US-China Trade War (00:41:40) - Will India benefit from the US-China Trade War? (00:52:55) - Investment Opportunities post-COVID (00:59:52) - Gold as an Investment Asset (01:03:36) - Cryptocurrencies (01:13:52) - Book Recommendations (01:16:14) - Charity Lunch with Buffett
23 Jan 20231h 24min
London Business School (LBS) MBA students Q&A on May 19, 2021
This event was sponsored by the LBS Investment Management Club and the LBS Indian Students Club (00:00:00) - Introduction (00:02:47) - Changes in our Economy post-COVID (00:08:21) - Entrepreneur’s Advantage (00:15:11) - Advise to New Investors (00:19:37) - Inner Scorecard (00:24:09) - Evaluating Management (00:30:42) - Investment in Graftech (00:38:56) - Portfolio Construction (00:43:46) - Mumbai Real Estate (00:49:27) - Impact of Exchange Rate on Investments (00:52:51) - Learnings from Nick Sleep
23 Jan 20231h 1min
Mohnish Pabrai’s Q&A session with students at the University of Georgia
University of Georgia Host: Charlie Warren Oberman November 18, 2021 (00:00:00) - Introduction (00:02:06) - Buffett: when he has his first stock tip, call me collect (00:03:47) - Relationship with Warren Buffett and Charlie Munger (00:12:41) - Circle of competence (00:15:16) - Sources for Investment Ideas (00:17:08) - Handling Underperformance (00:18:49) - Leverage in Businesses (00:23:05) - Micro vs. Macro (00:24:21) - Avoiding Confirmation Bias (00:25:51) - Identifying Moats (00:29:00) - Evaluating Management (00:30:16) - Investing as a Profession (00:32:15) - Entrepreneur’s Advantage (00:33:49) - Zero Fee Structure (00:35:42) - Pre-investment checklist (00:39:12) - Lessons from Failures (00:44:14) - Calculating Intrinsic Value (00:48:03) - Shameless Cloning (00:49:42) - Long-term compounders
23 Jan 20231h 3min
Mohnish Pabrai Q&A at Harvard Business School Investment Conference - April 4, 2022
Mohnish Pabrai speaks at the HBS Investment Conference on Sunday, April 3, 2022. It’s an hour-long fireside chat moderated by an HBS professor. The Investment Conference is one of the biggest conferences arranged by HBS students each year. It is attended by 400+ students across MBA programs who have a background or interest in the investment management industry. (00:00:00) - Introduction (00:04:12) - Ben Graham; Warren Buffett’s teacher (00:10:10) - All intelligent investing is Value Investing (00:13:51) - Holding above intrinsic value (00:19:43) - Micro vs. Marco in Turkish economy (00:25:29) - Macro events affecting US economy (00:34:58) - Investment checklist (00:39:46) - Investing in Seritage (00:43:00) - Shameless Cloning (00:47:55) - New Fund Managers
23 Jan 202355min
The Ten Commandments of Investment Management
Distinguished Speaker Series Applied Fundamental Analysis & Worldly Value investing Professor Arvind Navaratnam (00:00:00) - Introduction (00:02:13) - Thou shall not skim off the top (00:04:11) - Thou shall not have an investing team (00:05:20) - Thou shall accept that thou shall be wrong at least 1/3 of the time (00:07:06) - Thou shall look for hidden P/E of 1 stocks (00:13:13) - Thou shall never use Excel (00:21:21) - Thou shall always hope a rope to climb out of the deepest well (00:27:43) - Thou shall be singularly focused like Arjuna (00:31:32) - Thou shall never short (00:32:50) - Thou shall not be leveraged. Neither a lender nor a borrower be (00:36:28) - Thou shall be shameless cloner (00:37:12) - Where to look for investment ideas (00:40:51) - Temperament during financial crises (00:43:53) - Always have a rope on hand (00:49:07) - Investment in Google (00:52:12) - Judging Management Teams & Satyam Scam (00:55:28) - Sergio Marchionne (01:00:36) - Currency risk in international markets (01:07:52) - Investing in Distressed companies (01:09:33) - Competitive Moats that turn out to be an illusion (01:16:02) - Kelly formula (01:17:17) - Circle of Competence (01:19:30) - Shameless Cloning (01:20:04) - Zero Fee Structure (01:24:03) - Investing in Protected Moats (01:26:41) - When to sell an investment (01:30:39) - Personal trails that contribute to a manager’s success
20 Jan 20231h 36min
Mohnish Pabrai’s Q&A Session with Students at Indiana Univ. Kelley School of Business –April 1, 2021
Mohnish Pabrai’s Q&A Session with Students at Indiana Univ. Kelley School of Business –April 1, 2021 (00:00:00) - Introduction (00:04:31) - Investment checklist (00:08:18) - Circle of competence (00:11:08) - Shipping Industry (00:21:56) - Portfolio Management (00:23:35) - US Markets vs. Other markets (00:25:38) - Short selling (00:29:24) - Research process (00:30:42) - Holding a stock (00:33:10) - Cinches, Feet on the desk and awesome destinations (00:41:33) - Pre-investment checklist (00:43:19) - Kelly formula (00:45:04) - Scenario analysis (00:46:28) - Hurdle rate (00:47:48) - Philanthropic initiative; Dakshana Foundation (00:51:41) - When wealth is lost (00:54:14) - Best trait of an investor; Patience (00:56:12) - Lunch with Warren Buffett (00:58:43) - Starting of Pabrai Funds (01:01:49) - Investment Strategy (01:02:35) - Learning from mistakes (01:04:17) - Career Advice
12 Jan 20231h 6min
