Value Investing, Great Compounders, and Lessons from Buffett and Munger on January 5, 2022

Monish Pabrai's "The Dhandho Investor" presents a unique approach to value investing, emphasizing the principles of patience, discipline, and risk aversion. The book draws inspiration from the Indian investment philosophy of "Dhandho," which translates to "the business of playing a game well. " Pabrai advocates for a conservative investment strategy, focusing on undervalued companies with strong fundamentals and a wide margin of safety. He emphasizes the importance of thorough due diligence, long-term holding periods, and avoiding speculative investments. The book provides practical guidance and real-world examples to illustrate the principles of Dhandho investing, making it a valuable resource for both novice and experienced investors.

In Richer, Wiser, Happier, William Green draws on interviews conducted over twenty-five years with many of the world’s greatest investors. The book highlights that the most successful investors are mavericks and iconoclasts who question conventional wisdom and think rationally, rigorously, and objectively. They maximize their odds of long-term success in markets and life by drawing insights from diverse fields such as neuroscience, economic history, psychology, philosophy, and more. Green explains how these investors can teach us not only how to become rich but also how to improve our thinking, decision-making, risk assessment, and resilience, and how to turn uncertainty to our advantage.