We Study Billionaires - The Investor’s Podcast Network Classic 22: Life and investing w/ Mohnish Pabrai
20 snips
Nov 25, 2022 
In this engaging discussion, Mohnish Pabrai, a notable value investor and founder of the Dakshana Foundation, shares wisdom from his friendship with Charlie Munger. He reveals how he employs a checklist for informed stock investing and discusses his unique approach to philanthropy, aiming for the highest returns on charitable donations. Their conversation also dives into the significance of education for underprivileged students and the sustainable impact of well-planned philanthropic efforts.
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Overcoming Self-Pity
- Avoid self-pity during adversity, focusing on rationality instead.
- Remember that wealth is replaceable, but health and character are not.
Combating Management Bias
- CEOs often possess strong sales skills and charisma, which can create bias.
- Focus on a company's track record and facts rather than the management's persona.
Leverage and Learning
- Leverage is the primary reason investments fail; avoid it diligently.
- Learn from mistakes, but don't overcorrect and become overly conservative.
