Turning $1M Into $1B+: A Masterclass From The Indian Warren Buffett
ฝัง
- เผยแพร่เมื่อ 17 มิ.ย. 2024
- Get our business idea database here ➡️ clickhubspot.com/sop
Shaan Puri sits down with Mohnish Pabrai for a rare interview about value investing.
Mohnish is sometimes called the "Indian Warren Buffett" for his track record of value investing. In this podcast they talk about how founders can become great investors, how to avoid big mistakes, and lessons learned from Buffett & Munger.
-
Show Notes:
(0:00) Intro
(1:41) Why entrepreneurs make the best investors
(4:40) How Warren Buffett’s pre-paid for his college education
(9:56) Becoming Ben Graham’s Protege
(13:57) What Buffett learned about branding from See’s Candies
(17:53) Buffett’s failed play to be a candy mogul
(20:54) Identifying offering gaps
(21:47) Getting an MBA at age 14 as the son of an entrepreneur
(26:12) The 3 tells of a future millionaire
(28:49) Mohnish builds his first product with maxed out credit cards at 24
(31:21) The 168 hour framework
(33:56) “Entrepreneurs do not take risks”
(36:10) How Richard Branson launches Virgin Atlantic with no money
(39:09) How 0.1 percent of the population owns 70 percent of all the motels in America
(43:45) The unfair advantage of being a low-cost producer
(44:49) How Mohnish turned his first million into $13M in 5 years
(48:18) Pabrai Funds grows to $600M in assets in less than 10 years
(49:42) What Mohnish knows about fundraising that we don’t
(55:46) Pivoting from tech investments in 1999 to value investments
(58:50) $2M lunch with Warren Buffett
(1:04:15) Be a harsh grader of people
(1:08:09) The Givers, The Takers, and The Matchers
(1:11:30) “Heads I win, tails I don’t lose much”
(1:16:41) Private markets v public auctions
(1:21:15) The #1 trait that makes a great investor
(1:22:50) What people of Reddit think of Mohnish Pabrai
(1:24:26) Starting capital, annual rate of return, length of runway
(1:25:04) The rule of 72
(1:26:03) “The most important rule in life is how long something takes to double”
(1:30:21) Circle the Wagons Philosophy
(1:32:14) Losing $3B in one unfortunate event
(1:37:34) Be fearful when the world is greedy; Be greedy when the world is fearful
(1:38:34) What a value investor thinks of bitcoin
(1:39:50) Nick Sleep bets
(1:52:49) The Best Of: Capital Allocators
-
Links:
• The Intelligent Investor - tinyurl.com/3jmpjrmc
• The Dhandho Investor - tinyurl.com/53p9bhfv
• Mohnish on Twitter - / mohnishpabrai
-
Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Somewhere bit.ly/SupportShepherd
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!
To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.?
Melissa Jean Talingdan a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@EdwardWells-bj4eh That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@Chustinasarah My advisor is Victoria Carmen Santaella
You can look her up online
Nah I Can't say I can relate, Victoria Carmen Santaella charge is one-off and pretty reasonable when compared to what I benefit in returns.
Consistency matters a lot when it comes to online investment.
As a new beginner you surely need a professional broker to guide you through.
If not Andrea Lund I would have lost my hard earned money to fake manager.
Digital currency has become the most popular and valuable currency in the world today.
How can I reach her ?
Trading live limited.
Investing took off for me once I followed the right research and ditched the 'guru’ advice. the first result was $1.4 million returns in 20 months! Every lesson learned with investing is pure gold. the video reminds me to, never wait, I'm glad i didn’t.
This is the sign i need to take action. You mentioned returns, how do you differentiate if its a result of research or luck? It's clear that luck plays a huge role in investing
Consistent results aren't luck. research was the challenge till it led to Emily Ava Milligan, a top fund manager, her strategy made 290k into this and counting.
I pasted her name into my browser, and her website popped right up. It was clear she is in high demand. your example was rare, I stumbled on a gem I least expected. Thanks for the share
Mine mirrors yours. I'm on track again for 135 k return, working with Emily Ava Milligan sets a high bar. The results I get are apparent in no time.
I don't think we realize how lucky we are to have this podcast interview with Mohnish.
🤣😂😂 Mohnish is just talk. He has no record of achieving anything at all.
Imagine a prospective PE firm offers you a position and subsequently comes across this comment. I’d rescind that offer.
i had the same thought. Basing it on tbe Hindu way of life, I would say Mohnish, Warren,Charlie and such thinkers can be called Saints of Capitalism though it might sound weird. I want to live my life like these people
I hope we realize though, that everyone won't be nearly as lucky as Pabrai if you practice a strategy like that.
Sure he made billions doing nothing. People on the internet are funny
What do you think sets AMS120X apart from other projects? It seems to be dominating discussions lately
Unreal, this video is easily the best yet. Monish is a next level mind! The first 10 minutes around children was a life changing paradigm shift
The GOATED episode of the Pod
I appreciate that Shaan lets him speak without interruption.
Exactly
Yes agree,too much interruption. Actually he wants to speak much not the guest😂
that's a real podcaster do I believe whi h shaan did
Unlike Sam
Unlike L Howes
The greatest episode ever. Wisdom, psychology of money, how to start, how to grow, how to execute, how to invest, how to be rich and how to give. Just wow.
Most valuable interview yet. Wisdom about starting, not just expanding existing wealth.
One of the most insightful discussions I've ever heard which just changed my life. Thks for interviewing Mr. Mohnish.
Was looking forward to this one since you mentioned it a month ago. Thank you so much for bringing Mohnish on. Love this guy! At this point, maybe I should do a documentary about him :D
One of my heroes.
@@lennard3204зддддд😊😊йййййпйй❤❤й❤ййиййс ❤й
Doooooo it!!!
Yes!
This is episode of the year hands down. Watch all your videos and love them all, but this is on another level. Mohnish is an incredible mind and guest.
Amazing. “ITS TIME TO BE RICH, DO THIS”
The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.
Give this a try and attain weaIth. Get to her
Trader EIizabeth Green
@@svenoliver6040 How did you get 1M in 2 years? Please
I had never heard of Mohnish before Shaan mentioned him a couple weeks ago, but seriously I think this guy a gem of a find.. he seems so genuine and he’s not trying to push some agenda.. just sharing his thoughts and lessons.. he seems chill and really values his life and time.. I hope to keep these thoughts in mind throughout my life so that I can try to craft a life similar (at much less magnitude) to his! Awesome conversation
Best intro by far. I love that narrative style
This is definitely one of your best podcasts yet. Thank you.
Very impactful session. Can’t remember the last time I completed a full interview on TH-cam. Thanks for the interview.
I always say " Entrepreneurs take risks" but i got corrected today.. thank you sir! "Entrepreneurs minimize risk" . Learned a lot from this interview!
I haven’t even watched yet but I think this is early candidate for episode of the year.
This is by far THE BEST mohnish interiew I saw. The interviewer was GREAT and had excellent scope of questions. Mohnish was focused and mentioned the most important attributes of an investor and shared great stories. THANK YOU !!! 🌹🌺🌻🌼🌷
Incredible episode one of your top 10 for sure!
Such an amazing interview! I think I could watch it many more times and still keep pulling out nuggets.
Meeting Mohnish earlier this month at the Berkshire Hathaway event was a highlight of my week!
When I mentioned the upcoming MGM episode with Sean, his enthusiasm was infectious.
He's truly a giant in the field ( and physically), yet incredibly gracious.
Not only did he chat with me, but he also signed his book, "The Dhandho Investor," making the encounter even more memorable. This episode is unreal-I keep thinking it can't get better, but Sean, Sam, and the MFM team keep exceeding expectations!
Is he part of Berkshire Hathaway?
@@jetpark3743 No. He's a Shareholder but also friends with the Chairman - Warren Buffett
@@MONEYWISEDOCTOR At 1:36:53 Mohnish says "we".
I just started listening and I caught myself thinking - this podcast is my favorite piece of content out there
mine too
This easily made my top 3 MFM ep! Mohnish appears to be such a humble gentlemen! I enjoyed all his stories.
Have seen many interviews with Monish, but this one is different. Shaan gets the best out of his podcast guest. Thank you! I am pumped to continue pursuing asymmetry
Superb video. Thanks Shaan for having Mohnish on podcast!!!
Felt like this could have been a 5 hr long conversation and would have still felt too short! Never have listened to something 2 hrs long and felt what a gem but sad it's over so quickly
Thank you both so much for taking the time to do this. Amazing conversation!
This was such an incredible interview, thank you so much!
You guys nailed this one.The best podcast yet. A bucket of nuggets.
This was absolutely fantastic!
Great Episode! Thank you Shaan.
Thank you for this interview! This was great!
Profoundly inspirational and deep video. Super on point.
Thank you very much for this highly qualitative interview!
What a pod ? All this wealth of information for free...unbelievable..sincere thanks Shaan and Sam for bringing us nothing short of the best
2 hours of pure gold!
Phenomenal mind, and great ability to explain things in a digestible way. One of my favorites on MFM
Just watched the full 2 hours non-stop! Amazing interview leaving space for Monish to speak and asking beautiful questions. Monish is unique. Thank you!
Thank you so much. Such a great interview with Monish and so much I could learn from him
The insights from Mohnish are pure gold.
Thanks a lot, Shaan! I especially liked the idea of finding something hated and unloved. You can often find a lot of mispricing in things that are disliked or hated.
This the only podcast I have seen fully….. 2hrs of my time inside a library…. Worth it
Truly a masterclass! Goes to my watch again and again playlist.
Wow... One of my favorite episodes. So many notes... Definitely coming back to this one
🔥🔥🔥 quality of guests lately. Unreal
This podcast felt like 5 minutes!!
Great words of wisdom!! Easy to listen too!! And great questions
Thoroughly enjoyed every bit of the conversation. Thanks :)
First time I come to your channel, but what an introduction. Amazing interview! Thanks for being a “Giver”!
One of the best podcasts I've watched on Finance.
Fantastic interview. If I can just internalize a tenth of his knowledge, and keep my emotions in check, I think things will be looking up soon.
At any party everyone will gather around him and listen to his stories for hours without ever getting bored. This alone is an incredible talent.
Correct
you can really hear the influence from Charlie and Buffet in his takes. thanks for introducing me to Mohnish
One of the best podcasts i came across ❤
What a video. I learned so much from Mohnish and all the details.
So many gems in this. Great podcast
I started listening to this podcast and once and again, i get distracted but something in this discussion keep bringing me back, what a brilliant heart to look into. lovely discussion and so insightful. thank you
Thank you for making this video. Very valuable information
Stopped listening to your podcast but just happened to see this. Great job. I’m back.
I flew to Toronto in April just to tell him thank you. He changed my life.
Okay bot
Had a great time listening to Mohnish. Thank you for the insightful podcast.
Big ups on the quality holyyyy got me falling off my seat off the intro
I really enjoyed the interview. You guys keep hitting hard with the value! Outstanding ss aways. BRAVO GENTLEMEN!!
What a legend & pure wisdom conversation, Thank you guys 🙏
Wow. This is so insightful and at the same time simplistice to its core.
This guy is fregin brilliant . Not sure about the circus stache but I find myself googling and buying into his fund. So smart.
This is an ecxeptional interview. One that keeps on giving in every minute of it.
Podcast introduction…. Beautifully done
A great interview - very insightful. Thanks Mohnish for sharing your experience and various tips. You’re a great human being.
This is brilliant from Mohnish. As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
I think this is a time where financial advisors may come in handy for everyone, not just newbies
IMO, financial advisors are the most sought-after professionals after doctors. My portfolio is well-matched for every market season and just yielded 85% from early last year to date. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
@@mikegarvey17I appreciate the implementation of ideas and strategies that result to unmeasurable progress, mind sharing info of this person guiding you please?
My CFA ’Gertrude Margaret Quinto’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for the info, i found her website and sent a message hopefully she replies soon.
AWESOME interview, excellent questions and great digging for details on Shaan's Part and great answers by Mohnish , Thank you Both!
Love this episode. One of my favourites by far!
Well done guys..
Value overloaded
This is the single best podcast in history for any business person looking for real knowledge
Thank you so much for posting this well prepared and well organized interview. Mr. Pabrai is a real, wise man devoid of any pretense.
Great interview! This is an extra push for myself to go out there and have no fear of failure.
Many thanks to Shaan for this great interview and to Monnish. The interview is so fluent, funny and informative, thanks a lot many times.
Amazing interview. Mohnish exudes wisdom- an extremely intelligent, talented, generous human being. Always so humble too. And what a story teller. Thank you both.
What an episode. Amazing
Wow. This is a very insightful podcast with a wealth of knowledge.
What a great conversation ... wholesome .... and Mohnish, humble and generous. I have made my living from teaching Kushti - inspired by some wonderful men on a few early trips to India - I thought it would be impossible to make a living that way, let along a great living - and yet, my wife and I managed to do it. There is always a way - passion plus innovation and education will do the trick. We've never thought of our journey as a 'business journey' ... and yet ... Lastly - just wonderful tribute to Charlie Monger. Thank you Shaan and Mohnish.
What an Episode! So many takeaways. Time well spent
Pure Gold Podcast, Monish and his brillance.
An absolutely outstanding interview! What a humble man. Thank you.
Ultimate talk ,love to watch ,very learning ,thank you Mohnish
Assigned this podcast to my teens for summer HW. Very valuable info.
Haydar Acun at Marmara Capital was who showed Mohnish Pabrai the companies in Turkiye. I hadn't known this nugget before this interview.
Amazing Masterclass. Thanks!
I appreciate Monish's insights during the interview. His perspective added a lot of value to the discussion.
One of your best episodes
Shaan What I loved about you is the ability to wait and listen, it's phenomenal how you just wait!
Extraordinary interview. A life’s worth of knowledge (actually, multiple lives). Thank you.
My goodness...the value in this episode is remarkable
Great interview! Watched the whole thing.
First time commenting here. Mohnish, you're an inspiration for every immigrant hustling to make it, and Shawn, you were amazing. Listening to this brought both tears and joy.
Great interview. What an inspiration Mohnish Pabrai is. Love the correlation between his life experiences and Warren Buffett's.
Really great session, Thank you very much for sharing this valuable insight !
Thank you guys...
Thanks for tons of knowledge 🙏