Chai with Pabrai Fireside Chat with Jeff Pintar on Mohnish Pabrai's lifetime Blackjack ban at a Vegas Casino on May 21, 2020
Mar 1, 2023
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Economic Shock & Business Fragility
- The COVID-19 lockdown caused severe economic damage that will take years to recover from.
- Capitalism's creative destruction means many businesses will close, but better ones will eventually replace them.
Lifetime Blackjack Ban
- Mohnish Pabrai was given a lifetime ban from playing blackjack at a Vegas casino because they couldn't beat his winning system.
- The casino was polite and acknowledged his unique system that didn't rely on card counting.
Market vs Economy Divergence
- The stock market doesn't always reflect the true economy; some sectors, like tech, benefit from crises.
- It's been hard to find bargains in equities during the pandemic due to government stimulus.