How to Get Smoked on a Deal

Manesh Pabrai: The key thing is that, okay, I'm not going to lose money on this deal. There's a margin that the price has to be good enough to where you know beyond some reasonable doubt that you'll be able to make some money. That's all. So let's go back to what we were talking about last time, which was being capable of understanding and having a general base of knowledge. We call that once you've got the base though, right? Well, no, you're going to start in right off the bat. And then look into the marketplace of what they call industry groups and subgroups that you can look up on value line