Mohnish Pabrai’s Q&A session at the Harvard Business School on September 15, 2023
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- เผยแพร่เมื่อ 27 พ.ค. 2024
- Mohnish Pabrai’s Q&A session at the Harvard Business School on September 15, 2023.
00:00:00 Introduction
00:01:22 Heads I win; Tails I don’t lose too much!
00:14:24 My entrepreneurial adventures
00:22:56 Starting Pabrai Investment Funds
00:29:22 Thou shall not use Excel!
00:31:40 Cloning the Buffett Partnership structure
00:38:42 Diversification
00:41:05 Investing in Turkiye; Reysas
00:45:18 Lunch with Warren Buffett
00:51:52 The Dakshana Foundation
01:03:58 Adam Grant: Give and Take
01:08:55 Chuck Feeney: The Billionaire Who Wasn't
01:13:53 The Buffett Partnership
01:18:49 Chris Davis: AIG
01:24:03 Charlie Munger: The Psychology of Human Misjudgement.
01:27:19 Buffett - Munger Partnership
01:32:27 Avoid leverage in life
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I really like that insight about Warren saying most interesting things happened after he turned 47
I’m here for all of Mohnish’s stories. He is really gifted at story telling. ❤
My family owned several hotels in africa was the 3d richest family in england, before Idia min, both my grandmas brothers where poisoned and my family escaped to sweden.
With no money, bank emptied.
Now next generation is bellow middle class.
Not many people know or understand it, impressed he did.
Im doing the same invested for 5 years, 470% return, 60-130% yoy so far.
This was a great interview. Thank you to both of you for making it happen.
Thank you Mohnish for the insights and teachings
Thank You Mohnish, I had great time listening!
Back in the 1990's small investors who wanted to invest with Warren Buffet (but could not afford A shares) would buy Wesco stocks which is eighty pc owned by Berkshire and Hathaway and it has many of the same investments. This was one of the reasons for which the B shares were created. Sometimes, when there is fear in the market the Wesco shares can relatively be cheaper than the Berkshire B shares that investors flock to when stressed.
Thanks for the video!
Great learning ! Thank very much sharing this video with us.
thank you Mohnish!
Thanks guruji for sharing this wisdom 🙏🙏
There was a gap for a while, always click when a new Mohnish presentation is out.
Great interview - and great people from HBS!
Keep em coming Mohnish!! Really enjoy your narratives 🔥
these interviewer host are so bad always ask the same generic questions that was asked in previous interviews do some preparation work and ask some new questions that never been asked before to get some newer insight
That is what CNBC did for Berkshire annual questionaire compilation.
Becky, and few other question reader NEVER asked the same question for the past 30 years of meeting.
(I know so because I spent months watching all 30 Berkshire meeting from 1994 to 2023 just like Mohnish.)
From what I can observe, Mohnish do these interview for dual purpose.
Partly for fund running, and partly for question-led introspection / self-reflection. Gaining deeper understanding of things he already know by getting to think and talk.
Since community learned much from Mohnish talking to large population, would the inversion where only one community-represented-person focuses on Mohnish, and Mohnish learned from community, not work well also?
Idiots, they don’t do their research on asking newer questions
Yes
Couldn't agree more
Those were great questions. Shout out to the students for the great questions
value for students starts at 35:30
Thank you so much for sharing your wisdom Mohnish!
Excel is useful to run a DCF valuation model.
- Consider the "Heads I win, tails I don't lose much" approach when evaluating investment opportunities (1:20).
- Explore rational, value investing strategies inspired by Warren Buffett and Charlie Munger (12:17).
- Evaluate philanthropic opportunities based on measurable social return on investment (1:00:55).
- Maintain a concentrated investment portfolio and resist the urge to sell winners too early (1:23:01).
- Aim to build relationships that are relational, not just transactional, to foster trust and long-term connections (1:08:50).
Do things that are fun
1:06:12 Similar to the tri-guṇa-s: Sattva: What is yours is yours and what is mine is also yours. Rajas: What is mine is mine and what is yours is still yours. Tamas: What is mine is mine and what is yours is mine still.
Mohnish is a genius
Love from Nepal ❤️
Once again you keep me feel like a taker after consuming your content but still i am a greedy person, keep expecting more videos. But thanks again........🥰🥰
Gotta love when Monish calls some weird value investor thingy an "orgasmic experience". Makes me lmao every time.
To the moderator: it wasn't Charlie Munger that introduced the term 'deworseification', but Peter Lynch in his book 'Beating the Street'.
His role model in Chuck Feeney is sound - btw Feeney passed away recently - a real Saint.
Great video Mohnish. The barber story is very clear/simple/useful way simplifying capitalism into a useful visual.
Not quite a Reysas but Warehouse REIT & Tritax big box reit are trading far below equity value in the UK. Might be worth a look
“You miss 100% of the shots you don’t take”. Michael Scott (The Office).
Thank you dear sir ? My garu ji
1:24:30 Mohnish quoting Munger "you really have no business having an opinion if you cannot state the other side of that argument just as eloquently"
I started watching your recently and learnt so many things... thanks for your valuable insights...
Kindly share your checklist which you use on selecting the stock.
Pls pls pls pls pls pls
35:00
Mohnish, you probably better to organize it yourself. If you want the charity to efficiently spend their money, you could run it yourself.
21:04
I always learn something when Mohnish speaks. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a good resource for new investors.
Mohnish, what's the next trade you suggest?
Monish is a value investor. He doesn’t trade nor suggest.
Monish is a value investor. He doesn’t trade nor suggest.
@@Michael_NV I'm sorry, I just saw his last 13F fillings and he's been in and out of positions faster than what I can follow, so I really thought he was a trader. My bad!
You're joking right? he is in and out of stocks fast!!!@@Michael_NV
Punjabi proverb: چنگی نیتاں دا بیڑا پار (boats filled with good intentions always make it through)
His best investment was the lunch with Buffet. Look at all the PR he got, I think his wisdom and CAGR % is overrated. Sorry guys.
Well done Mohnish. Sure, but be reasonable. In the 1990s, everyone made money in the stock market. It was one of the greatest bull markets in history, ending brutally in 2000! You shouldn't confuse luck with skill. You did very well in the nineties. I read in your Dhandho book that your net worth at the time was $600 million, but if I'm not mistaken, today you have still not recovered from the stock market crash of 2007-2008 and the subsequent bear market. I follow your portfolio regularly and forgive me if I say you don't practice what you preach. It is not a Buffett-Munger approach, many investments are long shots and your turnover is much too high. In my arrogant opinion, I have more confidence in your daughter's approach than yours, but hey, who am I? Just a little shrimp in the ocean!
Charity is not a game, there is no "best" way to give - that's the flaw that Buffett and Pabrai bring to philanthropy. Their mindset is made for investing and RoIC not compassion. But of course, they've made a big difference - by the world's standards. Like the Bible says, the widow who gave a small amount that was all she had is greater in G-d's eyes than people who look for 'outcomes' and 'Roi'. Look at these guys mainly for investing advice and the general idea for doing good in the world - but don't adopt Mohnish's bad habits of assessing people so critically and ungenerously, and only looking for RoI in altruism. Love and compassion is the answer in giving.
I'm not really sure I understand your point. RoI is just a measure of how effectively money is used, so if you were giving away money, why would you not want it to have the biggest effect?
Me neither. What's the big deal - at the end money is set what moves mountains. You may as well treat it with respect it deserves, read ROI, so that you make more good than being all schmaltz
Boring! same repeat ,nothing new.
stop watching then