Mohnish Pabrai's Chat with students at the Rotman School of Management on March 03, 2023
Chai with Pabrai
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The Importance of Barons
Each issue of Barons probably has at least five or 10 stock ideas. And then if you go 50 years, it's 25,000 ideas. In 2003, after 50 years of reading Barons, he reads one idea in Barons that really exists itself. Suddenly Charlie is seeing something in this write-up which he could not see in the previous 25,000 write-ups. He had about $10 million of news change lying around. It was Tenako, the auto parts company. The bonds were down to like 20 cents of the dollar and the stock was very distressed. But Charlie somehow was super excited about it and he put 10 million into Tenako. About three years later
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