Mohnish Pabrai’s Q&A with members of The Babson College Fund (Babson College Students)– Feb 9, 2021
Chai with Pabrai
How to Maintain Conviction in Auction Driven Markets
From 2000 till about 2015 or 2016, Microsoft was a terrible company to own. And so even though cash flows were higher in years after 2000, it just wasn't enough to keep that. At one point, you had a 70, 80% drop in market caps. So value and growth are the same, one and the same, joined at the hip. It's all about buying those future cash flows and well below what they were.
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