Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - October 8, 2020
Chai with Pabrai
00:00
NVR's 55x Return in the Last 20 Years
A company called NVR has spent at least 100% of owner earnings on buybacks, and probably over 100%. They were even willing to spend beyond their earnings on buyback. In the last 20 years, the 56% reduction in share count, the stock is up 55 times. So the company delivered a 55x return against the headwind of over overgated index. And that didn't even matter for a company like NVR.
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