2min chapter

Chai with Pabrai cover image

Mohnish Pabrai's Presentation and Q&A at the University of Nebraska, Omaha on May 5 2023

Chai with Pabrai

CHAPTER

The 12 Successes of Ajit Jayan

The good news is that we tend to very well with very narrow circles of competence. We don't need to have large circles of competence, so the initial starting point of things that we are likely to understand are things that we consume. So for example, you might be might have an apple phone, you know, you might buy Levi's jeans and you might buy Nike shoes and so on. You already have some understanding of those businesses. For a company to get a dollar from you means that they've got some tremendous mode. Because as humans, we're going to be very careful about optimizing.

00:00
Speaker 1
So the good news is that we tend to very well with very narrow circles of competence. We don't need to have large circles of competence. Thus, initial starting point of things that we are likely to understand are things that we consume. So the products we buy and the services we buy or use. So I would limit us, you know, so for example, you might be might have an apple phone, you know, you might buy Levi's jeans and you might buy Nike shoes and so on. And so you're doing those for certain reasons. And you already have some understanding of those businesses. And probably that the initial starting point is to look at things that you're familiar with. You know, you've got some understanding of these companies because it's a very big leap for a company to be able to get even a dollar from you. I mean, for a company to get a dollar from you means that they've got some tremendous mode. Because as humans, we're going to be very careful about optimizing. And so if someone is actually able to get your interest or get you in the store or get you to buy their products, that means you might not be the only human who might have that interest. And so that might be the way to get going. Yeah, right here. Go ahead.
Speaker 2
Thank you so much for your presentation. Wonderful. I have a question. You know, of the 12 success that Mr. Baffa wrote, right, who do you want to say the question is Ajit Jayan, what is it so special about Ajit Jayan, given your closeness to Warren or child user? It just seems to be the world and there is a face. But what was so special about him that he learned from him?

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