I was able to see around the curve a few months before the public markets could see it because I was dealing with this stuff right at the ground level and so when Pabrai fun started it completely sidestepped the entire bubble. Because of digital disruptors experience I understood what the problems of these models were much better than most people understood them. So in the end it actually worked out much better because Pabrao fun said a lot more capital eventually. This was a painful lesson but the great lesson is that success really doesn't teach you anything we don't grow with success it is the failures that help us grow.
Mohnish Pabrai is the founder and Managing Partner of Pabrai Investment Funds. In this show, among lessons on life and investing, we talk about the biggest lessons Mohnish has learned from the people with whom he has been the closest in life – his father, Warren Buffett, Charlie Munger, Nick Sleep, and Guy Spier.