Chai with Pabrai Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - Nov 30, 2017
13 snips
Jan 30, 2023 AI Snips
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Transcript
Episode notes
Warren's Early Compounding Obsession
- Warren Buffett at 11 eagerly read "One Thousand Ways to Make a Thousand Dollars" to start compounding small sums.
- This early obsession with compounding set the foundation for his eventual billionaire status.
Compounding's Eighth Wonder Power
- Compounding exponentially grows even small sums into enormous fortunes over long periods.
- The Indians’ $24 Manhattan deal could mean trillions today with moderate returns, showing compounding's power.
Wilson Coin Operated Company Success
- At age 16, Warren and his friend Don Danley fixed and placed pinball machines in barber shops splitting weekly coin earnings.
- This business, Wilson Coin Operated Company, yielded extraordinary returns on small capital invested.