Chai with Pabrai Mohnish Pabrai's Q&A session with the Finance Club of IIT Patna on May 10, 2023
13 snips
Jun 21, 2023 AI Snips
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Transcript
Episode notes
Diverse Shapes of Value Investing
- Value in investing appears in diverse forms, sometimes obvious in numbers and sometimes hidden in business reinvestment models.
- Amazon's high P/E wasn't a true reflection since its reinvestment engine drove superior future returns.
Charlie Munger's Focus and Friendships
- Charlie Munger exemplifies focus on the present by solving a problem then moving on without dwelling on past achievements.
- He also carefully curates high-quality friendships, avoiding people with little core value, enhancing his life and circle.
Be Selective With Friends
- To build quality friendships, be a harsh grader and cut off low-quality relationships quickly.
- Patience helps since even rare quality connections will eventually occur through continuous effort.