Chai with Pabrai

Mohnish Pabrai, a distinguished investor and author, shares insights with Ajay Antony, emphasizing the importance of education for underprivileged students. They discuss the concept of cloning success by studying giants like Warren Buffett, and the incredible power of compounding in wealth. Pabrai illustrates how average students can excel through dedication, while also recounting thrilling stories of driving a Ferrari. The duo reflects on their community engagement efforts and the inspiring impact of films on students, fostering resilience and creativity.

Distinguished Speaker Series Applied Fundamental Analysis & Worldly Value investing Professor Arvind Navaratnam (00:00:00) - Introduction (00:01:13) - Bull! A history of boom and bust, 1982-2004 (00:01:32) - The Dow (1896-2020) (00:10:39) - NASDAQ (1971-2020) (00:13:23) - Nikkei (1970-2020) (00:14:30) - Kospi (1980-2020) (00:15:35) - “Old too soon, wise too late”- Charlie Munger (00:17:45) - NVR business (00:19:12) - Nick Sleep (00:22:50) - Extreme undervaluation to extreme overvaluation (00:23:42) - Great compounder or great carnival (00:25:54) - Investing failures (00:26:44) - Valueing a company (00:32:00) - Retails (00:40:42) - Where to start? (00:46:41) - Managing portfolio during pandemic (00:50:09) - Value investing is not dead (00:51:07) - Optionality in a business (00:55:08) - Long runway (00:57:30) - Identifying moats (01:00:48) - Opportunity cost (01:05:00) - Shameless Cloning (01:09:02) - Pre-investment checklist (01:11:48) - Investment in IPSCO and Turkey (01:15:57) - Kelly formula (01:19:41) - Quality of management team (01:22:29) - Advise for students  

Mohnish Pabrai's session with EO Gurgaon on January 10, 2023 (00:00:00) - Introduction (00:04:15) - I'm a better investor because I'm a businessman. I'm a better businessman because I'm an investor (00:05:00) - Capitalism is creative destruction (00:08:40) - Earnings reinvestment framework (00:10:58) - The importance of Spawning (00:13:07) - Control is over-rated (00:16:50) - From entrepreneur to investor (00:33:30) - Patel Motel Dhandho (00:40:42) - Book: Roy Thomson of Fleet Street; Trilogy (00:41:33) - Reysas (00:50:18) - Investment Shortcuts; cloning (00:52:35) - IIFL Wealth Management; Kotak (00:54:01) - The S&P 500 is a great choice (00:57:54) - Rakesh Jhunjhunwala (00:59:35) - Poor Charlie’s Almanack (01:07:39) - Mohnish’s Owners Manual by Jack Skeen (JackSkeen.com)

Dive into a fascinating Q&A session where Mohnish Pabrai shares insights on the Patel community's inspiring journey into the motel business, illustrating resilience and strategic acumen. The podcast tackles the brutal realities of capitalism, the complexities of monopolies, and the psychological factors influencing investing. Pabrai discusses the risks of short selling and the importance of personal mindset in achieving investment success. Don't miss tales of meeting Warren Buffett and the art of strategic portfolio management!

Distinguished Speaker Series Applied Fundamental Analysis & Worldly Value Investing Professor Arvind Navaratnam (00:00:00) - Introduction (00:02:41) - Compounding is the 8th wonder of world (00:14:12) - Wilson’s Coin Operated Company (00:22:02) - Warren’s obsession about compounding (00:24:38) - Rule of 72 (00:32:18) - Mr. Money Mustache (00:34:28) - Rate of compounding (00:39:09) - Compound 26% (00:46:22) - Mindless Cloning (00:54:11) - Comparative advantage of a Hedge fund (01:00:55) - Portfolio Management (01:06:50) - Kelly formula (01:08:59) - Thou shall not forecast recession (01:16:23) - Best source of ideas (01:20:11) - Market trends and Passive investing (01:26:53) - Doing the best job as a manager (01:33:51) - Insurance business (01:34:51) - Entrepreneur’s Advantage (01:37:44) - Investing in Commodity Businesses (01:42:33) - Technology and Investment (01:43:45) - Insights on Charlie Munger (01:48:47) - Difference in profit and non-profit world; Dakshana Foundation (01:52:47) - Advantage of being Part-time Investor  

Mohnish Pabrai, a prominent investment expert and author, shares his journey from entrepreneur to value investor and discusses the nuances of understanding a business's true value. He advocates for 'shameless cloning,' learning from successful investors to enhance decision-making. Pabrai delves into the dynamics of investing in foreign markets like Turkey, addressing inflation and currency challenges. He introduces the concept of a 'free lunch portfolio' tailored for passive investors, and emphasizes the importance of philanthropy through initiatives like the Dakshana Foundation.

In this engaging session, Mohnish Pabrai, the founder of Pabrai Investments and author of 'The Dhandho Investor,' offers insights on successful investing strategies. He introduces the concept of 'spawners'—companies that drive substantial growth—and contrasts them with non-spawners. Pabrai discusses the significance of adaptability in investment choices, provides case studies from industry giants, and emphasizes the importance of peer feedback in refining investment strategies. His passion for guiding students through the complexities of value investing makes for an inspiring conversation.

Mohnish Pabrai's Presentation and Q&A with students at the Boston College on October 27, 2022 (00:00:00) - Introduction (00:02:31) - The Uber Cannibals Investing Framework (00:27:45) - Henry Singleton - The ultimate Uber Cannibal (00:37:10) - The magic of buybacks (00:44:03) - Investing in a high interest rate environment (00:47:12) - Rules for philanthropy vs. capitalism (01:02:30) - Figuring out intrinsic value (01:10:23) - Creative destruction in capitalism (01:18:24) - Mental models (01:22:41) - Active vs. Passive Investment Management (01:26:08) - Investing in global markets (01:44:22) - Advice for students

Dive into the world of value investing as key principles are dissected. Discover the potential of captive finance companies and the stability of funeral service businesses. Uncover investment strategies amid uncertainty with insights from Silicon Valley Bank and Ipsco. Hear about the power of compounding and the thrill of treasure hunts in investing. Valuable lessons from Warren Buffett and thoughts on Alibaba add depth. Learn how unique opportunities can turn challenges into profitable prospects!

Dive into the wisdom of Charlie Munger and learn how to avoid self-pity in tough times. Discover the basics of investing, including Buffett’s punch card and the importance of understanding your 'circle of competence.' Get startup tips and insights on leveraging investment strategies. Explore the critical role of discounted cash flow analysis in assessing business valuations. Finally, understand the unique journey of the Dakshina Foundation, blending philanthropy with a business mindset for meaningful societal impact.