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Mohnish Pabrai’s Q&A Session with MBA Students at Georgetown University – March 4, 2021
Chai with Pabrai
Past Investments - Losers or Winners?
I think the best lessons come from the losers. We don't really learn much from the winners. I have had a lot of difficulty over the last couple of decades with companies with leverage and I've had multiple zeros, which is a hundred percent loss of the investor capital because of leverage. Another big part was misunderstanding of the mode and the competitive advantage to somehow not fully grasping the realities of the mode or the lack thereof. And then the third big piece was management and ownership, just kind of issues related to them.
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