Chai with Pabrai Mohnish Pabrai's Fireside chat with Ben Graham Centre on October 14, 2025
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Dec 10, 2025 
Join Mohnish Pabrai, a veteran value investor and founder of Pabrai Investment Funds, as he shares his wealth of insights. He discusses the art of cloning successful investment strategies and the human tendency to shy away from replicating success. Pabrai emphasizes the importance of simplicity in decision-making and the lessons learned from Buffett and Munger on portfolio concentration. He also unveils the inspiring impact of the Dakshana Foundation, adapting the Super 30 model to provide educational opportunities for underprivileged students in India.
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Shameless Cloning Wins
- Mohnish Pabrai argues cloning other people's proven models gives a huge edge because humans resist copying even when it's optimal.
- He credits most of his successes to shamelessly standing on the shoulders of giants rather than inventing new ideas.
Simplicity As Highest Intellect
- Simplicity is the highest level of intellect and a practical advantage when making decisions and aligning teams.
- Pabrai insists investment theses must be explainable in three sentences to a 10-year-old to be credible.
Cloning Buffett's Fee Model
- Pabrai cloned Warren Buffett's partnership structure (0% annual fees, 6% hurdle, 25% carry) when launching his fund in 1999.
- He was surprised few had copied Buffett's fee model and used it to attract early investors and referrals.
