Chai with Pabrai Mohnish Pabrai’s Q&A session at the SumZero Top Stocks Investor Summit on February 9, 2023
4 snips
Mar 7, 2023 
Renowned investor Mohnish Pabrai discusses value investing, Turkish market opportunities, and investment strategies. Topics include Coca-Cola İçecek, Ferrari stock regrets, FX risk in Turkey, TAV Airports, Brookfield investments, and comparisons between Alibaba and Tencent. Insights on Indian Energy Exchange, Adani Group, and tech giants like Amazon, Apple, and Microsoft. Also, a macroeconomic discussion on the US economy, inflation trends, and geopolitical risks.
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Munger's Belridge Oil Regret
- Charlie Munger's biggest mistake was not buying more shares of Belridge Oil despite knowing the oil field's economics were sound.
- The oil field's value was distinct from the CEO's alcoholism, a misjudgment he later regretted deeply.
Weigh Country vs. Business
- Turkey's macroeconomic problems affect markets but do not necessarily diminish fundamental value of select businesses.
- Investors should weigh the country's risks versus individual company economics to avoid missing undervalued opportunities.
Concentrated, Long-Term Bets
- Concentrate your portfolio on high-conviction, undervalued stocks even if it leads to large position sizes.
- Avoid selling quality holdings unless they become egregiously overvalued to maximize long-term compounding.