Chai with Pabrai Mohnish Pabrai Lecture at Univ. of California, Irvine (UCI), May 24, 2016
14 snips
Feb 7, 2023 
Mohnish Pabrai, founder of Pabrai Investments and author of 'The Dhandho Investor,' shares invaluable insights on successful investing. He emphasizes three key traits: patience, decisiveness, and standing out from the crowd. Discussing Berkshire Hathaway's investment in Coca-Cola, he highlights effective branding and management strategies. Pabrai also reflects on the importance of learning from investment mistakes, the power of indexing, and pursuing passion over profit in career choices. His passion for education fuels his philanthropic endeavors through the Dakshana Foundation.
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Traits of Successful Investors
- Successful investors combine patient waiting with sudden decisiveness to seize rare opportunities.
- They also embrace being different from the crowd without concern for others' opinions.
See's Candies Investment Story
- Buffett and Munger bought See's Candies in 1972 for $25 million when it was earning only $2 million.
- Twelve years later, earnings rose to $13 million as they maintained the brand's stronghold in California.
Coca-Cola's Unique Business Model
- Coca-Cola's brand is globally entrenched and uniquely travels well unlike See's Candies.
- The product's characteristics allow high recurring consumption without monotony, making it a capital-efficient long runway business.
