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Mohnish Pabrai's Q&A session with students at the Dakshana Valley, Pune on December 26, 2022
Chai with Pabrai
How to Calibrate a Favor
The brain doesn't know how to calibrate the difference between one dinner and one year of fees because in the ancient brain there was only meat given or which they didn't go hiding. What happens is all we know is he's a good guy, he did me a favor, I'm going to do him a favor. Now how can I take advantage of this calibration problem? So I run an investment fund. And when people need to invest in my investment fund, the minimum investment is $3 million. If someone wants to give me money to manage, they have to send me 24 crores. That's a large amount of money to send. We don't send it in an email
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