Thank you for sharing. I trust you more than I do with many. Charlie Munger was special guy. Hope we learn from you as you did from Charlie. I feel that if you leave earth with your knowledge. Nobody will know you lived here on earth. We all like to raise money for our favorite foundations or non-profit. I want to learn as much and apply this to foundation raise capital for infrastructure capital. i.e schools, supply for kids, addressing schools to job trainings. etc. Like you as a person Mohnish. Your a good man and we all have a lot to learn from where you been and what you have done. Long Live Charlie.
Ferrari's pricing power is truly amazing. Ferrari has one of the highest-quality customer bases in terms of passing on higher prices. It's also interesting to note that if Ferrari raises the price, the brand becomes even more desirable (so far, nothing new). Still, all these car collectors benefit from that because their collection also becomes more valuable. That's a truly incredible setup for a company to have.
In ten years the ICE vehicles will no longer be able to be registered in some states in the US. It's remarkable that even though people will not be able to buy them or sell them. However, those cars are still holding value.
Great preso by Mohnish and thanks for sharing it Mohnish. While I regard you highly there is one thing that bothers me that you always use PE as a shorthand for valuation. There are obviously other metrics used “value investors” but using the PE ratio for entry and exists or even for discussion purposes gives away the thought process being very price dependent. Another point was the gentleman asking a question about “when to sell Varun Beverages after it has run up 5-6X… aren’t you thinking as a part owner of the business? If it’s your family business will you sell it because of the 5-6X multiple and go start another business from scratch?
In discussing Varun Beverages, it's evident that a good business is one you hold onto, as highlighted by the company's founder himself. However, Charlie Munger's wisdom reminds us that no business is without its limits in valuation. Even though a business may be exceptional, there comes a point where the price becomes unjustifiable. It's crucial to discern between a good price, a great price, and an overpriced or simply irrational valuation as investors. While premium businesses may warrant higher multiples, there's a ceiling to what's reasonable. Private businesses rarely experience the kind of hyper-inflated valuations seen in public equities. The market's response to news often drives short-term spikes, but the true value lies in understanding a company's competitive advantage, or its moat. Ultimately, whether as an owner or investor, the decision to sell hinges on a thorough assessment of valuation and the underlying fundamentals, rather than succumbing to market frenzy.
Monish has made it very clear that he is extremely price-sensitive and will not pay an exhorbitant price just because a business is absolutely wonderful. I do agree that PE might be an outdated metric to use, ans perhaps FCF might be more practical because as a business owner, what you care about it how much cash a business can produce for you after all expenses.
Pabrai is just practicing his Turkish stock thesis lol, which is not relevant to the average Indian - try buying a Turkish stock through any brokerage. More useful if he says which broker he uses!
Merhaba I am from Turkey and have some money in our stock market and personally I wouldn't jump to Turkish stocks YET, since we have a currency that should lose like %30 more of its value in the near future to become more of a fair price but the government is prolonging the process of it by emptying the coffers of the country.
One of Mohnish’s best speeches yet
The best is yet to come. This was in trousers
I think i saw Mohnish yesterday spraying his diarrhea
Thank you for sharing. I trust you more than I do with many. Charlie Munger was special guy. Hope we learn from you as you did from Charlie. I feel that if you leave earth with your knowledge. Nobody will know you lived here on earth. We all like to raise money for our favorite foundations or non-profit. I want to learn as much and apply this to foundation raise capital for infrastructure capital. i.e schools, supply for kids, addressing schools to job trainings. etc. Like you as a person Mohnish. Your a good man and we all have a lot to learn from where you been and what you have done. Long Live Charlie.
I could listen to Mohnish all day long. His knowledge, storytelling, sense of humor, all help make him a master teacher.
Thanks for the talk.
Love the ownership model
Thank you for sharing
Absolutely brilliant lecture 🤌.
I could listen to Monish all day.
Awesome discussion. Must watch
Great talk!
Ferrari's pricing power is truly amazing. Ferrari has one of the highest-quality customer bases in terms of passing on higher prices. It's also interesting to note that if Ferrari raises the price, the brand becomes even more desirable (so far, nothing new). Still, all these car collectors benefit from that because their collection also becomes more valuable. That's a truly incredible setup for a company to have.
In ten years the ICE vehicles will no longer be able to be registered in some states in the US. It's remarkable that even though people will not be able to buy them or sell them. However, those cars are still holding value.
@@GuilleSanchez.answers They'll pribably be allowed as retro cars. If not in the US, then Monaco or somewhere else.
U r a gem on earth, doing excellent work here like warren buffet, live long mohnish, world needs person like u
I think you have chronic diarrhea
Your channel notification always makes my day😍 !!! please keep up the good work !!!🎉
Thank you sir.
Thank you Mohnish
Where to get his annual report?
The quality of the questions here compared to the talks you do in the US is shocking. American students are like toddlers in comparison 😅
The wait is once again...over...!! 🙏
गुरुजी प्रणाम ❤ I'm deyhard fan. I'm invested in rain industry. I always attend ur lecture. Give some analysis on India company
I watched it it on flame university channel
Thank you for sharing. extremely insightful and always learn something from you Sir.
what does efes mean?
keep up the good work Monish!
Great preso by Mohnish and thanks for sharing it Mohnish. While I regard you highly there is one thing that bothers me that you always use PE as a shorthand for valuation. There are obviously other metrics used “value investors” but using the PE ratio for entry and exists or even for discussion purposes gives away the thought process being very price dependent.
Another point was the gentleman asking a question about “when to sell Varun Beverages after it has run up 5-6X… aren’t you thinking as a part owner of the business? If it’s your family business will you sell it because of the 5-6X multiple and go start another business from scratch?
In discussing Varun Beverages, it's evident that a good business is one you hold onto, as highlighted by the company's founder himself. However, Charlie Munger's wisdom reminds us that no business is without its limits in valuation. Even though a business may be exceptional, there comes a point where the price becomes unjustifiable.
It's crucial to discern between a good price, a great price, and an overpriced or simply irrational valuation as investors.
While premium businesses may warrant higher multiples, there's a ceiling to what's reasonable.
Private businesses rarely experience the kind of hyper-inflated valuations seen in public equities.
The market's response to news often drives short-term spikes, but the true value lies in understanding a company's competitive advantage, or its moat.
Ultimately, whether as an owner or investor, the decision to sell hinges on a thorough assessment of valuation and the underlying fundamentals, rather than succumbing to market frenzy.
Monish has made it very clear that he is extremely price-sensitive and will not pay an exhorbitant price just because a business is absolutely wonderful. I do agree that PE might be an outdated metric to use, ans perhaps FCF might be more practical because as a business owner, what you care about it how much cash a business can produce for you after all expenses.
The best speech
Lunch with mohnish sir.is my dream
Mohnish please share how to invest in Turkey. I'm living in the Uk? IBKR doesn't allow for it. Its frustrating
I myself don't do it, but my friend uses Bitpanda to invest in Turkish etfs and all...
You can explore that :)
*I love you Sirji* ❤
Who is Sirji?
I think Mohnish was farting a lot but it was removed from the audio
is anybody know which broker is he working with in turkey?? :Ddd
They are editing his videos a lot more and remove insights that public can use.
Im at 130 percent returns in 1 year on Varuns Beverages 😊
Same
But not that much capital allocated
how can u talked about what u currently own in India? don't they have regulation against that?
just take a look at brazil monish, i can help you if you want
How can an indian invest in turkey
OG!
Pabrai is just practicing his Turkish stock thesis lol, which is not relevant to the average Indian - try buying a Turkish stock through any brokerage. More useful if he says which broker he uses!
Merhaba I am from Turkey and have some money in our stock market and personally I wouldn't jump to Turkish stocks YET, since we have a currency that should lose like %30 more of its value in the near future to become more of a fair price but the government is prolonging the process of it by emptying the coffers of the country.
@@varun76890 how can an Indian invest in turkey
I think the takeaways here are on how to think about businesses and investments, I don't think the intention of these talks is to give out stock tips.
Its doesnt like I can buy Anadolu Efes
Don't know why there's always a bleak, dull, lifeless look in India - terrible. Must be the heat, and vegetarian diet (especially lack of beef).
Good point
😂😂😂 "I said Fraud" 0.1PE is crazy.
tempelton will prove to be smarter! exit turkey
What a weird intro :
- here's a note from Warren buffet to monish
- monish plays bridge with Munger
Huh?