Chai with Pabrai Mohnish Pabrai's Q&A Session with Narsee Monjee Institute of Management Studies, Mumbai
5 snips
Feb 16, 2023 
Mohnish Pabrai, Founder and Managing Partner of Pabrai Investments Funds, shares his insights on value investing during a lively Q&A. He explains his multibaggers approach and highlights McDonald's remarkable 60+ years of compounding success. Pabrai also discusses Chuck Akre's Three-Legged Stool strategy, emphasizing the relevance of patience in investing. He tackles whether value investing is still viable today, and compares venture capital to public equities, advocating for clarity and a strategic approach in both.
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Diverse Approaches in Value Investing
- Value investing is a broad concept with many approaches within it.
- Because of the huge number of stocks globally, almost any investing criteria can work if applied consistently.
Focus on Multibaggers for Wealth
- Focus on finding multi-baggers: businesses that can increase 10x or 100x over 10 to 20 years.
- Holding multibaggers long-term avoids frequent selling and benefits from tax deferral.
McDonald's Multi-Decade Compounding
- McDonald's has compounded over 60 years, becoming a spectacular multi-bagger.
- Its innovations, like fast service and no cutlery needed, created a durable moat and consistent brand experience.
