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TIP517: Mohnish Pabrai's Dhandho Investment Framework
We Study Billionaires - The Investor’s Podcast Network
Investing in Distressed Businesses
The key to fighting the psychological warfare he calls it which I'll be discussing later is to buy a simple business with a simple thesis for why you're likely to make a great amount of money and unlikely to lose very much. He did an intrinsic value analysis in his book on Bed Bath and Beyond based on the numbers back in 2005 and he came to the conclusion that the company was trading around its intrinsic value and offered a potential return of roughly 10%. After projecting out modest conservative growth and discovering that the stock wasn't trading well below its intrinsic value the stock was an easy pass for him because it didn't offer much upside as well as a decent chance of delivering returns less than 10% per year
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