Chai with Pabrai Mohnish Pabrai's Interview at the Investors Podcast on April 15, 2025
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Jun 5, 2025 
Mohnish Pabrai, founder of Pabrai Investments and author of 'The Dhandho Investor,' shares insightful perspectives. He discusses opportunity cost and the allure of new investments versus maintaining long-held assets. Emphasizing Stoic philosophy, he sees adversity as a blessing that fosters growth. Pabrai also dives into the rarities of business moats, execution, and the balance of happiness in wealth. His work with the Dakshana Foundation highlights thoughtful philanthropy, underscoring the complexities of managing performance and social issues in both business and education.
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Value of Long-Term Commitment
- Long-term commitment beats chasing slightly better new options in investing.
- Sticking with an excellent holding outweighs obsession with the "next best" mistress.
Walmart in Nifty 50 Crash
- The Nifty 50 crash wiped out most stocks but not Walmart.
- Holding Walmart through the turmoil yielded nearly 15% annualized returns over 55 years.
Hold Exceptional Businesses Longer
- Don't sell exceptional businesses when fully or overvalued; hold them longer.
- Intrinsic value is unknowable; great companies often surprise positively over time.
