Chai with Pabrai Mohnish Pabrai's Session with MIT's Brass Rat Investments on March 12, 2024
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May 1, 2024 
Mohnish Pabrai discusses Berkshire's decisions, intrinsic stock value, learnings from Charlie Munger, Dakshana Foundation, identifying anomalies in investing, Coca-Cola Icecek, and a day in his life during a session with MIT's Brass Rat Investments.
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Rare Big Investment Opportunities
- Even Warren Buffett and Charlie Munger found only about a dozen needle-moving investments in almost 60 years.
- Great investment opportunities are rare and require deep understanding and painstaking work.
See's Candies Paved Way for Coke Bet
- Berkshire's first major 'stretch' investment was See's Candies, bought at a low price and taught Buffett and Munger about brands and pricing power.
- This experience led to the famous confident Coca-Cola bet 13 years later, showing growth and pricing power lessons accumulated over years.
Industry Shifts Require Patience
- Recognizing transformative shifts in industry, like railroads becoming more efficient and competitive, requires patience and deep study.
- Once such shifts are understood, decisive big bets follow, leading to major investment gains.