We Study Billionaires - The Investor’s Podcast Network

TIP719: Investing and Life Lessons w/ Mohnish Pabrai

202 snips
May 4, 2025
Guest
Mohnish Pabrai
In this engaging conversation, Mohnish Pabrai, a renowned value investor and managing partner of Pabrai Investment Funds, shares his insights on investing and philanthropy. He discusses how investors can think like business owners and emphasizes the importance of learning from mistakes without overanalyzing them. Mohnish also reflects on the true connection between wealth and happiness, and the necessity of trust in business. He highlights the power of compounding in both investing and personal growth, wrapping up with thoughtful insights from his philanthropic journey.
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INSIGHT

Small Sliver Drives Market Returns

  • Most long-term stock market returns come from a tiny fraction of holdings that surprise to the upside.
  • Sticking with truly great companies, like Walmart, through downturns can yield outsized success even with many failures.
ADVICE

Hold Great Businesses

  • Hold exceptional businesses even if they trade near or above intrinsic value.
  • Avoid selling great companies prematurely to capture small valuation gains or chase new ideas.
ANECDOTE

Charlie Warren Naming Story

  • A friend named his son Charlie Warren to honor Buffett and Munger.
  • Warren Buffett sent the boy a note joking about his first stock tip: 'Call me collect.'
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