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Mohnish Pabrai on Mistakes, AI Euphoria, Nvidia, Microsoft
The Art of Value
The Disadvantages of Undervaluing a Stock
After the dot com bubble burst in 2000, Microsoft went down to about $100 billion valuation from 600 billion. It took a long time to get back to where it was and people didn't hold it. There were very few people who held Amazon stock through that time until it exceeded that valuation and started to do well after that. If you buy at the peak of these valuations instead of undervalued, it can not work out well.
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