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TIP517: Mohnish Pabrai's Dhandho Investment Framework
We Study Billionaires - The Investor’s Podcast Network
The Role Model for Immigrants in Motel Business
The Patel family of India entered the motel business in 1973. They bought a 20 room motel for $5,000 down and instead of keeping employees that worked there, they let them all go. The competitive advantage was to be the lowest cost operator and have higher levels of profitability per room than their competitors. Moniche also tells his own story of dondo experience called Transtech Inc. And when he started the business, he had $30,000 saved up in 401k's but ended up not working out if it didn't make money.
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