Mohnish Pabrai at Annual Morningstar India Conference - Oct. 24, 2018
Mohnish Pabrai gives the keynote speech at the 8th Morningstar Investment Conference in Mumbai, India on October 24, 2018 and discusses the 10 Commandments of Investment Management. (00:00:00) - Introduction (00:02:05) - Commandment 1: Thou shall not skim off the top (00:04:21) - Commandment 2: Thou shall not have an investing team (00:06:24) - Commandment 3: Thou shall accept that thou shall be wrong at least 1/3rd of the time (00:07:47) - Commandment 4: Thou shall look for hidden P/E of 1 stocks (00:09:28) - Rain Industries (00:11:11) - Commandment 5: Thou shall never use Excel (00:12:06) - Commandment 6: Thou shall always have a rope to climb out of deepest wells (00:17:53) - Commandment 7: Thou shall be singularly focused like Arjuna (00:20:18) - Commandment 8: Thou shall never short (00:21:43) - Commandment 9: Thou shall not be leveraged. Neither a lender nor a borrower be (00:23:43) - Commandment 10: Thou shall be shameless cloner (00:24:08) - Lunch with Buffett (00:26:41) - Inner scorecard vs. outer scorecard (00:27:42) - Portfolio concentration (00:29:21) - Growth vs. value investing (00:30:56) - Motherson Sumi (00:31:36) - Invest in growing pies (00:34:53) - Fee structure (00:37:24) - Investing in India (00:39:44) - Poor Charlie's Almanack
10 Feb 202343min
Mohnish Pabrai Lecture at Univ. of California, Irvine (UCI), May 24, 2016
In this talk, Mohnish discusses the three basic attributes an investor should possess to effectively beat the odds. 1. Patience 2. Decisiveness and 3.Being different from the crowd. Mohnish reviews the multiple mental models behind Berkshire’s investment in Coca-Cola. Buffett’s lessons from his See’s Candies investment played a major role in his decision to invest in Coca-Cola. (00:00:00) - Introduction (00:03:36) - Traits of successful people (00:06:52) - How do you make investment? (00:09:52) - Buffett’s See’s Candies Investment (00:15:12) - Difference between See’s candies and Coke (00:18:51) - Long runway of Coke (00:26:36) - Coca-Cola Model (00:34:22) - Mental Model on Branding (00:40:21) - Coke’s Management (00:48:09) - Mental Model on How Human brains are screwed up (00:49:54) - What not to do (00:55:53) - Holy grail of investment (00:57:05) - What’s a great business? (00:59:08) - What Mohnish does as value investor (01:04:07) - Biggest mistake as an investment (01:06:53) - Indexing investing (01:08:22) - Key to becoming wealthy (01:11:49) - Insurance company business (01:13:15) - Cloning (01:15:02) - Pabrai Fund Model (01:16:48) - TransTech (01:21:14) - Challenge as an investor (01:24:34) - Dakshana Foundation (01:27:35) - Portfolio Diversification (01:29:06) - Cash vs. Opportunities (01:34:17) - Businesses that Mohnish admire (01:39:35) - Doing what you love
7 Feb 20231h 45min
Mohnish Pabrai In Conversation With Ajay Antony, The Physics Chamber
7 Feb 202336min
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
7 Feb 20231h 27min
Mohnish Pabrai's session with EO Gurgaon on January 10, 2023
Mohnish Pabrai's session with EO Gurgaon on January 10, 2023 (00:00:00) - Introduction (00:04:15) - I'm a better investor because I'm a businessman. I'm a better businessman because I'm an investor (00:05:00) - Capitalism is creative destruction (00:08:40) - Earnings reinvestment framework (00:10:58) - The importance of Spawning (00:13:07) - Control is over-rated (00:16:50) - From entrepreneur to investor (00:33:30) - Patel Motel Dhandho (00:40:42) - Book: Roy Thomson of Fleet Street; Trilogy (00:41:33) - Reysas (00:50:18) - Investment Shortcuts; cloning (00:52:35) - IIFL Wealth Management; Kotak (00:54:01) - The S&P 500 is a great choice (00:57:54) - Rakesh Jhunjhunwala (00:59:35) - Poor Charlie’s Almanack (01:07:39) - Mohnish’s Owners Manual by Jack Skeen (JackSkeen.com)
31 Jan 20231h 14min
Mohnish Pabrai’s Q&A session with students at the University of Oxford
University of Oxford Sponsored by the Oxford Alpha Fund October 19, 2021 (00:00:00) - Introduction (00:01:08) - Dhandho, Patels & Motels (00:08:25) - Capitalism is Brutal (Peter Theil) (00:10:42) - Business Monopolies (00:17:51) - Reysaş in Turkey (00:24:00) - Shorting (00:27:51) - Managing one’s own psychology (00:32:40) - Inner and outer scorecards (00:35:14) - Meeting Warren Buffett (00:43:33) - Old too soon wise too late – Charlie Munger (00:49:56) - Cloning
31 Jan 20231h 1min
Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - Nov 30, 2017
Distinguished Speaker Series Applied Fundamental Analysis & Worldly Value Investing Professor Arvind Navaratnam (00:00:00) - Introduction (00:02:41) - Compounding is the 8th wonder of world (00:14:12) - Wilson’s Coin Operated Company (00:22:02) - Warren’s obsession about compounding (00:24:38) - Rule of 72 (00:32:18) - Mr. Money Mustache (00:34:28) - Rate of compounding (00:39:09) - Compound 26% (00:46:22) - Mindless Cloning (00:54:11) - Comparative advantage of a Hedge fund (01:00:55) - Portfolio Management (01:06:50) - Kelly formula (01:08:59) - Thou shall not forecast recession (01:16:23) - Best source of ideas (01:20:11) - Market trends and Passive investing (01:26:53) - Doing the best job as a manager (01:33:51) - Insurance business (01:34:51) - Entrepreneur’s Advantage (01:37:44) - Investing in Commodity Businesses (01:42:33) - Technology and Investment (01:43:45) - Insights on Charlie Munger (01:48:47) - Difference in profit and non-profit world; Dakshana Foundation (01:52:47) - Advantage of being Part-time Investor
30 Jan 20231h 55min
Mohnish Pabrai’s Q&A session with Doctors Investing Group
Doctors Investing Group Interviewer: Tom Dittrich February 16, 2022 (00:00:00) - Introduction (00:01:31) - From Entrepreneur to Investor (00:06:30) - Value Investing (00:09:05) - Learning to find true value of a business (00:12:32) - Diversified vs. Concentrated Portfolio (00:14:54) - Shameless Cloning (00:17:46) - Business with spawning DNA (00:25:23) - Effect of macro events on investing (00:39:51) - Investing in foreign markets (00:44:41) - Auction driven markets (00:50:45) - Free Lunch Portfolio (00:52:11) - Dakshana Foundation
30 Jan 20231h
