Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - October 8, 2020
Chai with Pabrai
00:00
The Importance of Understanding Your Business
Each business that you're looking at, I think you need to look at. So the first question even when you get, before you get to all those things is, do I understand the business? Is it within my circular confidence? Can I figure out the two or three variables that really matter? For example, one of the things about the NVR home building business is they don't build any speculative homes. They believe in just in time manufacturing where they're saying, on the factor of the production that I need to build this home, I want to be bringing those together as close to the sale point as possible.
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