3min chapter

Chai with Pabrai cover image

Mohnish Pabrai’s Q&A with CFA Society of Mexico on August 17, 2022

Chai with Pabrai

CHAPTER

The Asymmetry in Investing, Which Ben Graham Didn't Talk About

There is an asymmetry in investing, where at a certain price, I would not buy a stock, but I wouldn't be wanting to sell it. The more stores they open, the deeper the mode gets because they can amortize their designs over a larger pool. And so while you would not buy Titan at 50 times trailing or 40 times trailing or maybe even 30 times trailing, you should not sell it.

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