

Mohnish Pabrai's Chat with students at the Rotman School of Management on March 03, 2023
10 snips Apr 11, 2023
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Lunch with Warren Buffett
- Mohnish Pabrai bought a lunch with Warren Buffett for $650,000 as a token of gratitude.
- This lunch led to lasting friendships with Buffett and Charlie Munger and valuable investment learnings.
Buffett's Few Great Decisions
- Buffett's outstanding investment returns come from a few great decisions amidst many mediocre ones.
- Identifying truly great businesses involves looking for high returns on equity and long-term reinvestment opportunities.
Circle the Wagons Strategy
- The key to investing success is holding on to great businesses and cutting losses on poor ones.
- Even if most bets fail, owning a few exceptional companies can generate extraordinary returns.