MI382: Cloning Mohnish Pabrai w/ Shawn O’Malley
The Intrinsic Value Podcast - The Investor’s Podcast Network
Investment Philosophy Evolution
This chapter explores the changing investment philosophies of prominent investors, particularly in the context of the historical Nifty Fifty trend. It emphasizes the benefits of long-term holding strategies and the importance of patience and thorough evaluation in successful investing.
In today’s episode, Shawn O’Malley (@Shawn_OMalley_) shares his favorite lessons from the billionaire investor Mohnish Pabrai, who some know as the “Indian Warren Buffett.” Pabrai is a master investor, a close friend of Charlie Munger, and a wonderful storyteller, too.
You’ll learn what it means to circle the wagons in investing, how a few big decisions will end up mattering the most throughout your investment career, how GEICO changed Benjamin Graham’s perspective on investing, why Nick Sleep told his investors to simply buy and hold three stocks, what Pabrai learned from having lunch with Buffett, what it means to be a Dhando Investor, plus so much more!
Prefer to watch? Click here to watch this episode on YouTube.
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro
03:59 - Why only 4% of Berkshire Hathaway’s decisions over the years have explained most of Buffett’s outperformance
08:52 - Which three stocks Nick Sleep told his investors to hold after winding down his fund
09:48 - Which types of stocks you’d want to circle the wagons around
10:10 - How GEICO changed Benjamin Graham’s perspective on investing
17:19 - What Pabrai learned from having lunch with Warren Buffett
30:26 - Why great companies are not always great investments
37:55 - How the Patels built a motel empire across America
42:24 - What it means to be a Dhando Investor
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
- Mohnish Pabrai's book, The Dhando Investor.
- Pabrai’s Circle the Wagons presentation.
- Pabrai’s past interviews on The Investors Podcast Network: The Inner Score Card, Masterclass, Playing to Win, Value Investing and Philanthropy.
- Pabrai’s profile in Richer, Wiser, Happier.
- Check out Richer, Wiser, Happier by William Green.
- Pabrai’s presentation to Peking University students.
- Pabrai’s Dakshana Foundation.
- Check out the books mentioned in the podcast here.
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