Dhandho. Heads I win | Mohnish Pabrai | Talks at Google
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- เผยแพร่เมื่อ 28 ก.ค. 2014
- Description:
In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Readers will be introduced to important value investing concepts such as "Heads, I win! Tails, I don't lose that much!," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu's dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy-to-use format. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.
About the Author:
Mohnish Pabrai is the Managing Partner of the Pabrai Investment Funds and Dhandho Holdings. Since inception in 1999 with $1 million in assets under management, Pabrai Investment Funds has grown to over $690 million in assets under management in 2014. The funds invest in public equities utilizing the Munger/Buffett Focused Value investing approach. Mohnish is the author of two books on value investing, The Dhandho Investor and Mosaic: Perspectives on Investing. The Dhandho Investor has been translated into German,Chinese, Japanese and Thai. Pabrai also founded and raised over $150 million for Dhandho Holdings in early 2014.
Pabrai was the Founder/CEO of TransTech, Inc. - an IT Consulting and Systems Integration company. Founded in his home in 1990, Pabrai bootstrapped the company to over $20 million in revenue when it was sold in 2000. Pabrai is also the Founder and Chairman of the Dakshana Foundation (www.dakshana.org). Dakshana Foundation is focused on providing world-class educational opportunities to economically and socially disadvantaged gifted children worldwide. He loves reading and playing duplicate bridge. He lives in Irvine, California. - ภาพยนตร์และแอนิเมชัน
This guy embraces his indianness so much - good to see
speed 1.25x is amazingly better
Facts!
Heads i win, tails i don't lose much
1.5 x is even better
2x for life.
Thanks
He's really multi-faceted and cross-domain in his thinking, looks into a lot of businesses with insight. I now want to read this book.
Excellent thanks
Google employees are so gifted.. They can hear speeches in person from experts across all industries and also sleep in pods when they are tired :)
Heads I win, tails I don't lose much.. Wow..what a way to look at every decision in life
Shalom from israel.i discovered monish yesterday after reading about him from an Israeli investor who recommended us to buy fiat and mentioned he's been a follower of monish for years. Love his talks .very down to Earth. Makes buffet style even more relevant than people think.
"Take up one idea. Make that one idea your life - think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body, be full of that idea, and just leave every other idea alone. This is the way to success." "Our duty is to encourage every one in his struggle to live up to his own highest idea, and strive at the same time to make the ideal as near as possible to the Truth."
Swami Vivekananda
Manan Patel
Well said....
What is your one idea? Have you found yours? Mine is to never stop learning and I'm living it by reading everything from books to annual reports making summaries to be shared and the money, happiness, health all is pouring in. Blessed, thank you Swami Vivekananda
I'm a patel.. Proud to be one..
Value is its own catalyst! Wow. So true. Mohnish sounds so rational. Must be CTM's influence.
"I tell my wife that so that she's aware that's an option" lollllllllll
Must watch lesson. Big fan of Mohnish Pabrai
Great talk, Mr. Pabrai! You hit on all the key points from your excellent book.
th-cam.com/video/bT5hDtoWQFM/w-d-xo.html
Great session thank you... the dhandho investor is next on my reading list
Finally got it! Assymetrical bet, Dhandho investing, Heads I win-Tail I Dont Lose Much, Low Risk-High Uncertainty. Tnx Mr. Monish for putting it all together in one talk.
you know what? if i can't pay $2m bucks for lunch with warren, and since munger's not interested in lunch with strangers, i'd be happy to buy mohnish lunch. Anywhere and whatever he wants. He's like Agent Coulson, a small character in Marvel but ended up being likeable and huge :)
munger is dead he cant eat lunch
Charlie Munger is alive you moron he is 93 !
we all know
Instead of paying $2m to Mohnish or Warren, you can learn to invest it and compound it at 26% CAGR and you'll be at $1bn in 39 years.
He speaks so well. Holds my attention for sure.
Business opportunities are available to any at all. You don't even to have creative think, you could just replicate some one else's model.
Once you deal with the uncertainty of outcome, the sky is the limit.
Thank you very much Mohnish.
50:00 Good question
"..Google is the next Google"... what a company man response.
Mohnish big fan of yours and I have been following you since last couple of years and love the way you live your life that is your philanthropy work that you do through dhakshna foundation. Hopefully I can do something that you have done. Keep posting videos and sharing knowledge. Once again would like to thank you.
Chintan Shah I totally agree.I think the sentence he said I am better investor because i am better business man and i am better business man because i am better investor.
44:35-44:53 and 56:48-59:26
his view on Google changed pretty much in 2024
Investments in India is entirely different. Firstly, the most important thing is that the promoter should be clean. Most amount of research time goes into this. Secondly, the industry should not be very heavily dependent on government for clearance or getting licences. If these two criterion are met then you can apply all the principles of investing in India.
There are many Benjamin Graham kind of companies in India but nobody touches them because of the above mentioned points. On an contrary there are many companies which are trading at exorbitant valuations and keep on delivering very high returns decades after decades because they are almost monopolies.
In India the Businessman are the best investors because they know the system unlike America where somebody who holds PhD in finance is a best investor
Everyone has read & listened to Saurabh Mukherjea.
@@adityasalunke3444 Any recommended links to read more about Saurabh?
MAKING NO LOGIC INDIA MARKETS ARE DOING WELL IN RETURNS OK ,,,AND PHD'S ARE GREAT INVESTORS 🤣WHAT ABOUT WARREN BUFFET AND ROBERT,RAKESH DAMANI ETC GO STUDY THEN CRITISZE INDIA MARKET
Thank you very much!
19:45 he saw it coming 7 years ago
Hmm true. I didn't even check the date on this video when I watched but after reading your comment I did. And I was thrilled.
You almost summarized your dhando book with little pinch of QnA😉🌟 #Thankss
Excellent, insightful
It's fundamentally unsound to think that there is a way to assuage the risk of investing. You can only divert the risk of the downside by pushing it into realms that distribute it to as many people as possible.
excellent talk.
Amazing talk.
Great!!
Very useful video sir...
Excellent analysis
Great talk!
I read the book and he is basically saying the content of the book
Great man.
Lovely talk
Thank you 🌹🌹🌹
This conflicts with one of my life principles: "never trust a man with a mustache."
Depends on the type of mustache.
kurt knapp Why?
if i had a trillion, i wouldnt give half a thought to investing anymore. Imma live off bank interest
Bank won't cope up with future value of money. And the double whammy, of taxes and inflation, would reduce its value.
When countries fail. U can not believe in banks
Amazing
Dhandho ❤❤❤
Asocial distancing way back in 2014
That's Silicon Valley for ya; ahead of the curve/on the spectrum :')
It is amazing lessons... Thank you sir
amazing talk sir, from a Pakistani
yes the hatred is BS, my grand parents were from U.P.
just lines on a map sir
Complete
he is so cool
If you speed up the video to 1.25x he has the cadence of a white guy. His accent virtually disappears. Amazing
LOL actually true
Hi Bob, how’s your voice doing now after your surgery?
3:28 will how is that standing now after open AI
One correction indian govt taken every Indian came from Yuganda for that citizenship law ammended
I'm reading the Dhando investor and wonder why Mohnish decided to sell Stewart investment when the stock reached 4$ when the analysis showed that the business was bullet proof ?
26:50 Low risk and high uncertainty
That rice on chess story is probably heard by almost every person who works on code. But only to understand exponential time complexity!
At what part of this video is it?
Found that, 22:05
Who is the host??
what is the use of money for Buffet at this age
Philanthropy
Smaller motel business is tough. Its like owning a small store in the ghetto. Long hours, and a lot of bullshit.
I've had too many bad experiences with Indian owned motels. Upkeep is not their strong point. Cheap, but you get what you pay for. Larger chains are much more predictable and reliable, but more spendy.
Even large chains are largely managed & few owned by Indians. Rich Patels are now fed up with running low scale motels so they moved up the chain.
need me a Dhandho t-shirt
I'd only buy that shit for cheap though... valuetown.
Yeah... Google today is not what he says it is.
33:41
20:14
Another Buffett inspired dude...
Dakshana foundations
Read Book Dhadho by Mohnish Parbai
Rajni Patel th-cam.com/video/OSi3TTKk0rI/w-d-xo.html
The audio book link
If you give away what you won't miss, is it really philanthropy? If you take away money from others, by legal or mostly legal means, is it really earning?
Yes, grasshopper.
Yes
Patel the name is enough
His fund is not registered with the SEC could be a second Bernhard L. Madoff.
+Scott Semple It may be true that he can't fool all the people all the time, but he can fool enough of them to run an ASSET GATHERING SCHEME.
I recommend you read "Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets"
Book by Nassim Nicholas Taleb
Best of luck to you!
+TheMarketsLive Your killing the game.
Monish a lot of the examples and stories shared by are 80s and 90s in 2021 can't open a airline like Branson did in the 80s so these examples are really pointless in today's time
I wish I bought bitcoin then 🙄
I'm beginning to think he likes buffet
He fucked up with his investment on indian company called as Rain Industries...he was 10x up and he did not sell and now he is just 2x...
Heads I win tails you lose
Ugandan genocide, that guy sure took a play out of the Asian dictator's handbook 😏
.
Heads I win tails I eat curry - no downside
Does the Dhandho Investor have "uuhhh" and "ummmmm" as much as it is here in this presentation? 🤔🤔
You should appreciate the knowledge he is sharing for free
Look at the moon , not the finger which is pointing at.
Your title is wrong, the famous con is. "Heads I win, Tails you lose!".
Pabrai can't come up with an original investment idea to save his life. Every investment that originated with him has been subpar. Ask him about ZINC, which anyone with any value investing acumen completely avoided. He constantly quotes Buffett but has never been able to actually grasp Buffett's teachings.
a good strategy is to short his stock picks
Don't let the secret out
Lie! Patels did not come to India not because India was not ready to take them but because they wanted to migrate to developed countries like USA and Britain
Yeah but does that matter??
@@prosperize yes It shows the integrity of the person speaking.
Not true. Indira Gandhi openly denied taking too many refugees as India was already facing problem with refugees on Bangladesh border
47:19 is totally false. No, Gandhi's son was never like that (the P word). Please everyone report this video and get it taken down for spreading misinformation on Gandhi.
Great View on Gandhi, he was actually a Curse on India....
Mohnish wakes up late and takes so many naps not because he is wise but "fat and lazy".
The angry way centrally drop because sleet complementarily guide modulo a victorious reminder. torpid, ahead attack