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Mohnish Pabrai Lecture at Peking University (Guanghua School of Mgmt) - Oct 14, 2016

Chai with Pabrai

CHAPTER

Then I Found a Waste to Energy Recycler

The fifth model is upside without downside I also call this playing the bubble. The dot com boom was on in a big way and everyone thought it's going to be transformational It's going to change everything so these companies like petts.com etc they had huge valuations even amazon was a huge valuation Yahoo all these companies were given stock options by silicon valley banks who never disclosed how many warrants they had or what their prices were. So we have some very weird businesses that are not great, but they do really well if you can buy them at three times earnings for example. We've got one company called Danystone holding those trading at one dollar share which has gone up nine times

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