Chai with Pabrai

Mohnish Pabrai's Chat with students at the Rotman School of Management on March 03, 2023

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Apr 11, 2023
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ANECDOTE

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.
INSIGHT

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.
INSIGHT

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.
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