Chai with Pabrai Mohnish Pabrai's Interview at the mint-Equitymaster Investor Hour on April 11, 2023
Apr 28, 2023
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Entrepreneurial Childhood Lessons
- Mohnish Pabrai grew up experiencing his father's repeated bankruptcies and entrepreneurship in various businesses.
- This challenging childhood taught him business acumen and resilience through constant boom and bust cycles.
Beginning of Investing Journey
- Mohnish began investing seriously after reading Peter Lynch, leading to a $1 million investment growing to $13 million in five years.
- He started Pabrai Funds in 1999 with friends' money, achieving a 70% return the first year.
Value in Boring Businesses
- The 1999 tech bubble crash allowed buying boring, stable businesses at single-digit multiples.
- Classic deep value investing flourished by focusing on neglected companies with visible cash flows.