Find Out Charlie Munger's Advice to Investing Guru Mohnish Pabrai
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- เผยแพร่เมื่อ 12 มิ.ย. 2022
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William Green speaks with Mohnish Pabrai, a famed hedge fund manager who is not only one of the best investors of his generation but a trailblazing philanthropist whose foundation, Dakshana, has lifted thousands of families out of poverty. Mohnish, the founder of Pabrai Investment Funds, speaks here about the principles that have driven his success and shares lessons he’s learned from his friendship with Warren Buffett and Charlie Munger.
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📖BOOKS MENTIONED:
- Richer, Wiser, Happier by William Green - amzn.to/3JejudP
- The Dhando Investor by Mohnish Pabrai - amzn.to/3Qa9OFY
- Power vs Force by David Hawkins - amzn.to/3H97meN
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▶️PAST EPISODES MENTIONED
- Stock Investing w/ Mohnish Pabrai (TIP442) - • Mohnish Pabrai: Stock ...
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💡OTHER RESOURCES
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I'm thrilled to share the latest episode of the "Richer, Wiser, Happier" podcast: my interview with the remarkable investor & philanthropist Mohnish Pabrai. It's one of my absolute favorite conversations so far. - William
We hope you enjoyed this episode as much as we did. Please let us know your thoughts in the comments section!
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Mr Green please try and interview Li Lu, maybe Mohnish can convince him for one. A lot of us would like to hear and learn from him
I second this!
I would pay for a Li lu interview
100% agree
Yessir. Please
Li lu next please
Great interview William! Haven't heard Mohnish speak so candidly before. Was great to learn more about him as a person.
So glad to hear that!
"When you are doing the right thing the right people show up " and more importantly the wrong ones stay away
This is the best Mohnish Pabrai interview I have watched. This is the result of Interviewer knowing the interviewee well
Thank you so much for the kind words!
Most things in life function on trust, not on contracts. Work hard on deserving trust.
Preach!
Agreed. I've been in the business world for almost 49 years now. I've found that treating people the way I would want them to treat me has always worked extremely well.
One of the bests mohnish interviews I have seen in years. It gives us a lot of value that you two are friends in the way mohnish opens up. Lot of differences between this interview and the previous ones mohnish have conceded. Thanks a lot William for your good work (including your book of course!). Looking forward for the second part!
Thanks a ton!
Wow! I have read all of Mohnish's books / articles and watched every interview; and this added yet another level of profound insight. The personal details he shared were perhaps best left off the record (for the sake of his family's privacy); but his candor and humility amaze me. Guru Pabrai accompanies me (via TH-cam) on my lengthy daily commute a couple times a month; and I am a better investor and better PERSON for it. Thank you Mr. Green for a wonderful interview (and equally wonderful book).
So glad you enjoyed the episode!
When are you interviewing Zak and Nick !!! I think that will be the icing on the cake of your podcast…
A nick Sleep interview would be great!
Mohnish, is one of the real people out there, in an imaginary world. He has grown up, as we all should, to the meaning of the role of man in society. In that man, finds true meaning in himself only by being a humanitarian, a teacher. A person of humility. This improves the world that we live in. That, gives purpose to our lives. I have great respect for Mohnish. I feel also very grateful that I have gotten to know the sages, Charlie and Warren.
Thank you so much for watching!
One thing the interviewers never ask Pabrai (at least to the best of my knowledge) is about Peter Lynch. If he says that his book One Up On Wall Street was the book that drove him in this direction in life, I find it odd how he never talks / gets asked about its author, if he knows or has ever been with him, or if he would be interested in knowing him, or what does he think about him. He must know that Peter Lynch is a legendary investor, right?
I had a few seconds long conversation with him (Mr. Pabrai) at Berkshire and I was able to get selfie with him. One of best moments at the annual meeting for me.
So happy for you!
Just as it’s obvious that Mohnish feels so fortunate to have Charlie and others in his circle as friends, I feel fortunate to have come across this interview.
It is so enlightening and there are so many life lessons here that I believe it’s almost impossible for one not to come away a better person for having seen this. Thank you so much.
So happy to hear that!
One of the best interviews I have seen so far this year. Credits to William but Mohnish at his best. So much to learn from his thoughts on parenting, principles, being alive in the times of Warren and Charlie, etc. Fantastic..
Thank you for the kind words!
I can listen to William and Mohinish talk for 24 hours straight. brilliant men
Thank you so much. Glad you enjoyed it!
Play the game of life ethically it is in our best interest. Best to be kind, for the greatest opponent is ourselves.
Preach!
Probably one of the best interviews I have watched for many years - thank you
Thank you for the kind words!
Great interview ! 🎉
Thank you so much for this interview !! It's more about life than investing !!! One of the best conversations I heard / watched !!!!
Our pleasure!
Great interview. Mohnish was much more candid and open this time. Got some wonderful insights and learnings. Thank you, Mohnish and William. Looking forward to the future podcast with Mohnish.
Our pleasure!
This content is changing my life for the better so Id imagine it is doing the same for others. Please, please try your best to do a follow up interview/ Part 2. 🙏🏻
Thank you so much for watching, Patrick!
I see pain in Mohnish when he touches up on his personal life. Hope he finds all the strength and all the very best.
Hi William, thank you so much for all you do for the investors' community! PS. How good would it be to see a Nick Sleep interview :)
Another great interview, I am curious who else you have on the docket for the podcast.
William, loved your book and just discovered these interviews. Thank you!
So happy to hear that, David!
Thanks William! It was such a pleasure listeing that I know I'll be playing this again 😃 ..curios what Manish meant by his departure date on June 11, 2044.
The value of your discussions William and Mohnish are truly remarkable, they give so much color to the journey and the friendships your have cultivated of the years. You both are teaching the investing community so many great lessons that will endure into the future!
Keep of the great work and joy!
William loved your book! Just finished on audio. Inspiring 👍🏻
Awesome! Thank you!
Mohnish, please please please FIX YOUR MICROPHONE.
We love you.
Thank you so much for providing this great content for free! Would love to see an episode with Pat Dorsey some day, if you can get him on the show.
Great video. Unfortunately, the guest's voice quality is subpar, same was for Bill Miller's interview. Would be great if you ask your guests to use microphone.
The way Mohnish wanted to meet buffet , I want to meet him !
We hope you do!
Thank you, William! And you should have let Monish talk about Tencent! :D Please make the next interview soon enough. Can't wait to see it.
Thanks for watching, Ken!
Awesome interview yet again. You guys never miss and the community thanks you. Awesome job William.
Our pleasure, Colin!
Waiting for this!! Thanks a lot
Hope you like it!
Simply the best ! This video goes to the deeper level of what makes great investors great. This video unfolds some of the ethical principles these great investors rigorously follow and success seems to be the side effect of that ! Now, I’m looking forward to listen to David Hawkins. Thanks Mr. Green for the long episode ! The 30 min or 1 hr deadlines for videos don’t do justice to understand these legends ! Thanks a bunch
Awesome interview - great anecdotes and life lessons beyond investing. Covered a lot of ground but it sounds as though you only got through half the questions - look forward to the follow up. Great job 👏🏽
Glad you enjoyed it!
Thanks for sharing !!!
Thanks for watching!
Very Helpful and eye-opening session
Keep them coming! Thanks william. That Charlie munger story is amazing! Lollll
Glad you're enjoying the series so far!
Amazing interview, thanks!
Glad you enjoyed it!
Yessir, been waiting for this one!!
Hope you enjoyed it!
Incredible interview. Of course you guys are old friends and it shows. Thanks for sharing it was very touching.
Glad you enjoyed it!
Amazing interview! Thanks to both of you
Our pleasure!
Thank you for the wonderful contribution to humanity. It was such a pleasure to listen to.
So glad to hear that!
Soo happy the TH-cam algorithm put this on my radar.
So happy to hear that, Mark!
Great interview by both. Thankyou.
Our pleasure! Thank you for listening 🙌
Pure Gold
Thanks Mr Green
Love the clarity Mohnish has
about things
Rooting for more .....
Glad to hear that!
Great interview and Mohnish and LiLu will hopefully be the Warren and Charlie of the future.
But how Charlie, LiLu and Mohnish can all be cheerleading Micron is beyond me... I say that accepting that they know infinitely more about investing than I do, but also from the perspective of someone who worked for decades in the semiconductor industry.
Congrats... this is pure gold ❤
Glad you found value in this episode!
Awesome!! So many nuggets about life and finance.
So happy to hear you found it valuable!
Thank you TIP, William and Mohnish :)
Our pleasure!
what a brilliant and insightful not only about investment but also about life
Kudos to William for being such a good listener 👍 loved every minute of it !
Glad you enjoyed it!
That was amazing. So unexpected. I’ve seen one other Mohnish interview and met you/him, years before, out front of the Berkshire Annual Meeting wearing the Yellow Berker’s gigantic top hat. I realize, now, that you/he borrowed it from a man named Gartman, so I associated the two men together. As I watched this video, it gradually dawned on me, that the smiling man in the hat I met so many years ago, that i had thought might be kind of foolish, was, in fact a mensch. Something I aspire to be. The whole reason I invested with Warren and Charlie was because after seeing Charlie at a Wesco meeting in 1996 or thereabouts, I realized i could believe everything that man said. It changed my life. But, i secretly thought I was the only person who understood that the super power of being able to trust those two was just mine. Of course, becoming one of the 40,000 who showed up at the annual meetings in Omaha, showed me i wasn’t-and filled me with joy.
But-i have never heard the superpower and their use of it articulated so well and so candidly, as in this interview. Thank you, both. I feel truly blessed to have watched this interview. I have a lot of work to do. 8 years, 11 months and 1 day. :)
Thanks so much for your very thoughtful message. I wish I'd been as smart and prescient as you back in 1996! Warm wishes, William Green
@@RicherWiserHappier Thank you. You are a mensch, too.
Watched this podcast many times..Mr Pavrai n Mr William both are amazing humans..
Thank you so much!🙌
Awesome interview. Thank you Mohnish
Our pleasure!
I love Monish, down to earth guy with a wealth of knowledge and experience. I really hope I can find a mentor like him in my life one day. For now his videos will have to do.. 😌
Glad to hear it! Thank you 🙂
This is just a true jam. Also, if you guys haven't read William's book, definitely read it, you get a multidimensional view of the ideal qualities that manifest in great investors!
Thank you for the support!
Just fabulous, Monish is a great mentor of mine that I have never met, but hopefully will!
Thank you so much, Scott! We hope you do!
Monish is the best! Watch almost everyone of his interviews.
I always remember his advice on learning to be alone in a room working. So much of this game is concentration and peace of mind. Great interview!
So happy to hear you liked the video, Michael!
thank's!!
You're welcome!
What a F***ing legend monish is ... Business, investing and philanthropy all of them successfull juts by following Charlie's and Buffets principles of honesty , integrity and complete transparency.
William green i am so happy you asked more questions on Charlie got to learn a lot from him.
Really appreciate the entire session.
May be next time you could also ask monish on how people want to do 3 4 things at the same time have 2 or more business or jobs and manage them .. does he think it's the right way to do it or what he thinks for people switching to different fields and doing work in multiple fields .
Thanks again
Glad it was valuable for you!
Incredible talk!
Thank you so much!
This is life changing. Really inspires one to live a good life
So glad to hear it!
Love from Bihar, India 😍
Thank you for watching!
Great interview
Thanks so much, Eric!
Look at that library!!!! 😍😍😍😍😍😍🙏🏼🙏🏼🙏🏼😂 I love it!
Thanks so much for watching!
Such a wonderful interview it was
Thank you for this wonderful session
Recently i read Richer Wiser and Happier. It’s awesome book. I am going to read it as many times I can
Regards
Our pleasure! You might also enjoy our favorite books here: th-cam.com/play/PL_xlkwLDH1F8ThA3NcnLrleqD-2cvk3EG.html 🙂
Such a good interview. Pabrai is awesome.
So glad to heart that, Matthew!
Top interview Mr. Green ... Just getting the best out of monish.
A question you could ask him next time is what is a good position or like people say just empty the truck and go big .. what percentage is a good number to.. surely it changes a lot but is there a thinking if how much position you should take
Thank you for watching!
Interesting thing to notice, I'm not sure when Amorepacific was recommended by Li Lu. But I don't think it ever 80x'ed. In fact, it's now come back down from its all time high to close to its IPO price. Time to jump in, I wonder?
Fun video ... Really appreciate
Our pleasure!
His main thing is to keep quoting back what Warren Buffett and Charlie munger said, he repeats and repeats over and over again in all these interview, good job at repeating, it’s a skill. And his investing record somehow doesn’t repeat Warren Buffett records, very impressive
Wonderful discussion as always. Just wonder why Mohnish mentions his last day on planet earth. This is the 2nd time I have heard him say that - not sure why. Not that I need to or want to understand but more importantly.. why June 2044? I do think if one focusses on chopping wood in other words looking forward, when the day comes to go it does..
seriously ... patience, rationality..... is most important. what this is! a lesson on Karl Marx critique of capitalism.
A warm discussion, with life lessons about life and investments.
William's interviews are very good!
Thank you so much!
Just briliiant!
Thank you so much!
Thanks for the interview. It’s great to hear each time from you and learn Mohnish; however, recently, I miss some of the words you are saying when you move your head because of the microphone :) Please fix your 🎤.
Just be happy that you are getting this for free
Hi William, Its great to see you talking with Pabrai, I read your book and you mentioned you are also cloning Pabrai by buying SRG, I wonder what's your reaction when you first know Pabrai is selling SRG totally, I think it is really worth digging deeper for the cloning mindset, the book also mentioned SRG is in Buffett's personal portfolio, but I think it is hard to know if Warren sold it all and the reason behind it. Thanks for the show, waiting to see more episode!
SRG is finished
@@munmengkok7882 thats not the point of my comment. What I am interested is the mindset behind the Pabrai cloning, say Pabrai buys SRG at 5, and Green interviewed and got convinced by the cloning mindset and buy at 7 and hold on nearly 2 years and Pabrai walked out and mentioned he was wrong, but the unsaid word is for cloners the money is useless for two year during the same period, there could be more options. I do not care about a specific stock is doomed or what, what I am interested is how William's reaction when he heard the info and what he did afterwards with what mindset, that is more important in trading and investing if it were covered in the interview I think.
which movie was that
How great! When you learn more in 2 hours than in all those years in school
So glad you found it valuable!
Olá Pedro não sei se vais ver isto mas estava a ler os comentários e vi o teu nome, pareceu-me PT. Gostava de conectar com a comunidade em Portugal. Tens linkedin ?
مقابلة جميلة جداً، فيها نظرة عن حياة تشارلي منقر و مونيش ببراي.
what a wonderful podcast
Thank you so much!
The Seritage Growth Properties (SRG) Land alone is worth $25 a share, redevelopment is very, very easy for prime real estate locations, every prime location has a use, and cities don’t want dead malls and/or dead areas.
Great conversation! Always learn something from William and Mohnish. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a good book for new investors.
Thank you so much!🙌
Wonderful interview thank you guys
Glad you enjoyed the video!
The content is great but the audio is volatile
Gentlemen, here's to you both 👏👏👏🍻🍻🍻 Take a bow. 🙏
Thanks for watching!
@@TheInvestorsPodcastNetwork Always ❤ watching your videos. Please keep up the great work and kudos to your team's efforts and commitment, cheers
@Brij Bhatt Thank you so much for your kind words!💯
This was a great interview! Interesting to learn some new things about Mohnish! :)
Happy to hear that!
Please also add hindi subtitles For hindi listeners
Hello. I mean Hello. Which movie did Charlie told Mohnish to watch again?
May I ask what the performance of Mr. Pabrai is? I see many interviews with him on TH-cam recently, but I didn't come across any real numbers that show that Mr. Pabrai has actually achieved above average performance. Forgive my ignorance. Maybe someone can help me with that. Is there any evidence that Mr. Pabrai's investing performance has reaped above average results? When has Mr. Pabrai started investing and what's his annual return till today?
Early 90s I think his record is something like 14 percent annual. There is an article from 2013 showing it as higher but he has had a few down years. Does his website list them?
@@joezawinulreviewsandreacti2509 So, he had good returns for a while. What about the overall return? I mean since he started investing till today. What's his average annual return since he started till today? Any idea?
The sloppy use of "guru" has contributed to the inherent worthless of the term! The use of the "f word' still has SOME meaning to shock calling attention to an assertion, but it's rapidly decreasing. It says something about the user."
Why did he divorce? What's the reason behind it? Why all successful people marriage ends in divorce? Is that a tactic to save tax?
👏🏾👏🏾
❤🧡💛
What is the deal with 11th June, 2044?
Monish I love you but please get a better mic