Chai with Pabrai Mohnish Pabrai’s Q&A at Mendoza College of Business - University of Notre Dame on September 29, 2023
6 snips
Nov 14, 2023 
Mohnish Pabrai, an investment fund manager, answers various intriguing questions at Mendoza College of Business. Topics discussed include when to sell a stock, starting Pabrai Investment Funds, Berkshire's twelve great decisions, identifying compounders, Charlie's mental models, cloning Chipotle vs. Baja Fresh, Fiat Chrysler, NVR, and the decline of bridge. The insightful conversation also touches on Warren Buffet's recent investments in Japanese trading companies, the auto industry, McDonald's French fries, and the future vision for funneling capital towards social causes.
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Hold Rare Compounders Longer
- Great compound businesses with long runways are rare and worth holding even when overvalued.
- Intrinsic value is hard to estimate precisely, so it's wise to give management the benefit of the doubt.
Starting His Own Fund
- Mohnish wrote Warren Buffett asking to apprentice but was declined since Buffett prefers working alone.
- He started his own investment fund with friends' money and grew it professionally after initial success.
Use Personal Consumption for Ideas
- List all brands you personally use and study those as potential great compound businesses.
- Early familiarity with emerging brands can give you an investing edge.