Chai with Pabrai

Dive into the world of investing wisdom, where lessons from iconic stocks like Walmart and Microsoft take center stage. Discover the importance of an investment checklist, akin to aviation safety, and navigate the complexities of the 'circle of competence.' Gain insights on seizing opportunities in emerging markets and hear compelling comparisons between tech giants Apple and Microsoft. With anecdotes from legendary investors and discussions on the psychological aspects of investing, this conversation is packed with valuable nuggets for aspiring investors.

Mohnish Pabrai, founder of Pabrai Investments and author of 'The Dhandho Investor,' shares insightful perspectives. He discusses opportunity cost and the allure of new investments versus maintaining long-held assets. Emphasizing Stoic philosophy, he sees adversity as a blessing that fosters growth. Pabrai also dives into the rarities of business moats, execution, and the balance of happiness in wealth. His work with the Dakshana Foundation highlights thoughtful philanthropy, underscoring the complexities of managing performance and social issues in both business and education.

Mohnish Pabrai’s Session with Ashoka Investment Club on April 22, 2025. (00:00:00) - Introduction (00:00:47) - Charlie Munger's mental models; Poor Charlie’s Almanack (00:07:38) - Cloning is the best mental model (00:08:45) - Sam Walton & Family; Walmart (00:10:36) - Microsoft (00:13:31) - Bridge (00:14:51) - Pabrai Funds: Cloned model from the Buffett Partnerships (00:17:41) - Selecting a stock (00:19:12) - Macro-economic factors; D-Mart & Shrimp farming in India (00:23:32) - Circle of competence; John Arrillaga (00:24:38) - Commodity producers; Saudi Aramco (00:27:26) - Look for anomalies, Investing in Turkiye & Reysas (00:33:54) - Learning from mistakes; Satyam Computers (00:39:35) - Nifty-50 in the 1970s; Walmart The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.

Mohnish Pabrai’s Talk with Shaan Puri at the My First Million podcast on March 27, 2025. (00:00:00) - Introduction (00:00:28) - Why the small investor has an advantage (00:02:51) - Investing $10K to make $1 Million (00:08:16) - Frontline (00:17:13) - Berkshire's 12 great decisions in 58 years (00:18:34) - Buffett's selection process: Moody's Manual (00:23:38) - Value Investor's Club (00:27:33) - The Japan Company Handbook (00:28:46) - Berkshire's investment in Japan (00:36:13) - Thou shall not use Excel (00:40:26) - Leverage: Rick Guerin (00:49:00) - Do not cut the flowers to water the weeds (00:51:21) - Costco (00:56:38) - My interactions with Charlie Munger & Warren Buffett (00:58:23) - Risk vs. Uncertainty (01:00:16) - Coca-Cola Icecek (01:01:42) - Warren's “Too Hard Pile” (01:03:01) - Circle of Competence: John Arrillaga (01:07:03) - Sam Walton: Walmart and Sol Price (01:12:18) - A power nap is good for productivity (01:15:39) - My owner's manual (01:21:52) - The Dakshana Foundation: A mathematical game (01:23:53) - Super 30: Model cloned by Dakshana (01:28:53) - Large inheritances cause more harm than good (01:31:35) - Mohnish’s Blackjack System (01:37:46) - Michael Burry (01:41:21) - Rakesh Jhunjhunwala: Titan Industries (01:44:26) - Starting early to lengthen your runway (01:47:02) - Macroeconomic factors (01:47:37) - AI in investing The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.

Mohnish Pabrai’s Interview at The Money Mindset with Sonia Shenoy on February 15, 2025. (00:00:00) - Introduction (00:01:20) - I am a single-player game player (00:03:01) - My friendship with Buffett and Munger (00:04:52) - Lunch with Warren Buffett (00:10:39) - Rick Guerrin (00:13:29) - Lessons learnt from Warren; The Inner scorecard (00:18:12) - Marcus Aurelius; The stoic philosophy (00:22:06) - Wealth is lost, nothing is lost; Health is lost, something is lost; Character is lost, everything is lost (00:26:05) - Index Funds (00:29:23) - Nifty-50; Walmart (00:32:53) - Patience is the best skill in investing; Infosys & Microsoft (00:36:04) - Separate a signal from the noise (00:37:52) - Selecting a stock; Warren's too-hard pile (00:41:14) - Investing in Turkiye; Reysas (00:46:39) - Look for illusionary smoke in the market (00:50:46) - Follow your passion in life (00:52:43) - Give meaning to life (00:55:34) - Money doesn't bring happiness (00:59:28) - Key lessons in life (01:05:54) - Good parenting is a key responsibility  The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.

Mohnish Pabrai, a renowned investor and author, shares invaluable insights with Dakshana Scholars. He discusses the importance of embracing failure and innovation, drawing on the successes of organizations like SpaceX and Arvind Eye Care. Pabrai emphasizes trust as a cornerstone of exceptional business models, referencing Costco and DMart. He inspires listeners about the power of compounding personal desires and scaling ventures thoughtfully, while promoting honesty as a vital principle for sustainable success. It's a refreshing take on entrepreneurship and leadership.

Delve into the captivating insights of classical economists like Adam Smith and David Ricardo. Discover the success story of India’s shrimp industry and analyze India's agricultural policy contradictions compared to the USA. Explore the dynamics of giving, takers, and matchers, and the significance of altruism. Learn about the power of compounding and the Rule of 72 for wealth growth. Finally, hear about the transformative impact of philanthropy on underprivileged students and the importance of focused educational efforts.

Mohnish Pabrai, a seasoned hedge fund manager and author, shares captivating insights on investment strategies and life reflections. He humorously discusses aging while emphasizing that it's never too late to innovate in life and investing. Pabrai elaborates on the Dakshana Foundation's mission to enhance education and the game of bridge as a tool for strategic thinking. He also dives into the power of 'cloning' successful investing models and the benefits of concentrated portfolios, likening these lessons to real-life experiences with prominent investors.

Mohnish Pabrai's Guest Lecture at Microsoft on November 15, 2024. (00:00:00) - Introduction  (00:01:49) - Microsoft; Bill Gates (00:03:19) - The future of AI (00:04:27) - Value vs. Growth investing (00:08:58) - IPSCO  (00:13:13) - Reysas (00:15:47) - Starting with value investing (00:19:37) - My journey in investing; Introduction to Warren Buffett (00:22:45) - Cloning ideas: Walmart & Microsoft  (00:24:35) - Microsoft: Vijay Vashi (00:31:51) - Find out your passion: Poor Charlie's Almanac (00:35:42) - The Dakshana Foundation (00:40:12) - Bill Gates' introduction to Warren Buffett (00:44:15) - Reliability and Trust (00:47:33) - Somasegar at Microsoft  The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.  

Mohnish Pabrai, founder of Pabrai Investment Funds and author of acclaimed investment books, shares his insights on navigating complex market dynamics. He discusses the cyclical nature of the oil shipping and coal industries, emphasizing strategies for adapting to ESG pressures. Pabrai also delves into the memory chip market and highlights the importance of portfolio concentration versus diversification. Additionally, he recommends 'The Joy of Costco,' connecting literature with investment insights to enrich market understanding.