Chai with Pabrai Mohnish Pabrai's conversation at Schroders - The Value Perspective podcast on October 10, 2023
6 snips
Dec 26, 2023 
Mohnish Pabrai, value investor and founder of the Dakshana Foundation, discusses his introduction to Warren Buffett, the power of cloning as a mental model, examples of successful cloners like Microsoft and Walmart, the importance of portfolio concentration, and the risks of diversification. He also shares insights on improving probabilistic thinking, capital allocation, and macro-economic factors in investing.
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Pabrai Casino Ban and Buffett Friendship
- Mohnish Pabrai once received a lifetime ban from a Las Vegas casino for a system that guaranteed wins without card counting.
- His deep admiration and friendship with Warren Buffett and Charlie Munger shaped his investing philosophy.
Dakshana Foundation's Charitable Impact
- Inspired by Chuck Feeney's goal to die with zero wealth, Pabrai founded the Dakshana Foundation to give away money effectively.
- Dakshana aids brilliant, poor Indian students, helping them attend top institutes and change their families' futures.
Dad's Optimism Shaped Pabrai
- Pabrai's father was an eternal optimist entrepreneur starting multiple businesses, often failing but always starting anew.
- His father's optimism and entrepreneurial hustle deeply influenced Pabrai's views on risk and starting his own ventures.