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4min chapter
Mohnish Pabrai's Interview at the mint-Equitymaster Investor Hour on April 11, 2023
Chai with Pabrai
The Importance of Normally-Based Investing
Last year, the Turkish market was up like 120% in dollars. But even after going up that much, it is one of the cheapest markets in the world. The inflation rate is 80%. In 2019, I visited this company in Turkey where the market cap was $16 million and the liquidation value was $800 million. It just made no sense on any metric that it should be priced like that.
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