Chai with Pabrai Mohnish Pabrai's Q&A Session at Boston College, Carroll School of Management on October 12, 2023
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Dec 18, 2023 
Mohnish Pabrai, investor and author of 'The Dhandho Investor,' shares insights on investing anomalies and his experience with companies like Fiat Chrysler and Rain Industries. He discusses the importance of identifying anomalies and avoiding Excel in financial calculations. Pabrai also touches on investing in distressed industries and highlights his success in finding mispricing opportunities in Turkey. The podcast explores Warren Buffett's strategy, including his interest in Japanese trading companies, and emphasizes the significance of holding onto great businesses.
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Buffett's Early Value Hunting
- Warren Buffett as a teenager collected discarded winning racetrack tickets to collect payoff through his aunt.
- In his 20s, he relentlessly flipped through Moody's manuals looking for undervalued "winning tickets" in stocks.
Consistency Over A Lifetime
- Buffett's investment approach remains consistent from youth to old age, hunting for rare anomalies in company data.
- Even at age 82, he pored over data like the Japan Company Handbook seeking overlooked value.
Buffett's Leveraged Japanese Bet
- In 2020, Buffett made 5% stakes in five Japanese trading companies using cheap yen borrowing at half percent interest.
- These investments doubled or quadrupled in value with dividends doubling, generating returns with almost no capital outlay.