Episodes
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Mohnish Pabrai's Guest Lecture at University of Nebraska, Omaha on October 15, 2024.
(00:00:00) - Introduction
(00:02:02) - Charlie Munger: Costco
(00:05:35) - Warren's rejection of opportunities on moral grounds
(00:08:27) - Conwood Chewing Tobacco
(00:13:52) - Valeant Pharmaceuticals
(00:18:10) - Credit Acceptance
(00:23:58) - TransDigm
(00:30:23) - Berkshire's investment in Gen Re
(00:32:38) - Charlie Munger is irreplaceable
(00:36:18) - Berkshire Hathaway after Warren Buffett
(00:37:44) - Early start to investing journey
(00:40:17) - My daughter's introduction to compounding and investing
(00:45:01) - Blackstone
(00:45:59) - My journey to investing
(00:51:15) - Poor Charlie's Almanack
(00:53:13) - Advice for beginners; Be a harsh grader
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Podcast with Kevin (Age 10) and Justin (Age 6) on September 24, 2024.
(00:00:00) - Introduction
(00:02:37) - Start investing at a young age; Bill Gates
(00:06:38) - Invest in what interests you; Warren Buffett
(00:10:26) - The best purchase I’ve ever made
(00:12:16) - Bridge
(00:14:16) - Compounding - 8th wonder of the world
(00:21:02) - Rule of 72
(00:25:38) - Warren Buffett: Compounding since early years
(00:34:49) - Key to wealth and a long life
(00:40:25) - Value investing
(00:44:56) - My journey as a value investor
(00:46:47) - Knowledge is cumulative
(00:48:15) - My real-life heroes
(00:49:52) - Advice for beginners
(00:50:47) - Great entrepreneurs of this age
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Missing episodes?
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Mohnish Pabrai’s Talk at Pan IIT Conference, Toronto in June 2014.
(00:00:00) - Introduction
(00:01:14) - Philanthropy
(00:03:40) - The Dakshana Foundation; Anand Kumar's Super 30
(00:07:42) - Philanthropy in India
(00:12:14) - My inspiration for philanthropy
(00:14:13) - Jawahar Navodaya Vidyalaya
(00:16:30) - Social ROI; Bills & Melinda Gates Foundation
(00:18:22) - Entrepreneurship vs. Philanthropy
(00:20:00) - The importance of feedback loops in philanthropy
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai’s keynote address at TiECON Southwest on November 9, 2013.
(00:00:00) - Introduction
(00:02:02) - The IndUS Entrepreneurs
(00:04:49) - Non-venture-backed start ups
(00:06:26) - My first startup: Non-venture-backed
(00:09:04) - Philanthropy: Focus on a specific cause for maximum returns
(00:12:36) - The Dakshana Foundation: Cloned from Anand Kumar's Super 30
(00:18:44) - Dakshana's goal: 2020 in 2020
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Session with YPO Delhi Chapter on July 9, 2024
(00:00:00) - Introduction
(00:03:56) - Manhattan deal by American Indians in 1626; The Rule of 72
(00:08:45) - My daughter’s introduction to compounding
(00:11:04) - The Three pillars of compounding
(00:13:11) - Berkshire’s dozen truly great decisions
(00:15:34) - See's Candies vs. Coca-Cola
(00:19:38) - Rakesh Jhunjhunwala
(00:22:43) - ROI on tech businesses
(00:24:56) - Reysas
(00:28:05) - Coke's global bottling businesses; Varun Beverages
(00:33:36) - Growth vs ROCE
(00:35:37) - Investing in index funds
(00:36:41) - Be fearful when the world is greedy, be greedy when the world is fearful
(00:43:31) - Investing in Coal
(00:48:50) - Investing Lessons from Robert Caro
(00:52:47) - Selling a stock
(00:56:30) - Heinz, See's Candies & Coke
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai’s Session with CFA Society, United Kingdom on June 12, 2024
(00:00:00) - Introduction
(00:01:49) - My grandfather Gogia Pasha
(00:10:00) - My journey as an investor
(00:14:31) - Anomalies in stock market
(00:18:11) - Early years of Pabrai Funds
(00:21:47) - Value vs. Growth
(00:23:48) - Investing is an opportunistic business
(00:26:10) - Coal is not a four lettered word!
(00:32:45) - Investing in Turkey
(00:36:09) - Handling macro-economic risks
(00:37:33) - Mistakes are stepping stones to success; Investment checklist
(00:43:32) - Building an asset management business
(00:52:57) - TAV Airports
(00:57:27) - Coca-Cola Icecek
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
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Mohnish Pabrai’s Session with Rotary Bangalore DownTown and Fellowship of Wealth Creators on June 19, 2024.
(00:00:00) - Introduction
(00:01:07) - Esther Duflo and Abhijit Banerjee
(00:02:12) - Philanthropy: Social return on invested capital
(00:10:36) - Framework of Non-profit organisations; The Dakshana Foundation
(00:17:03) - Dakshana scholar: Rajiv Kumar
(00:19:49) - Dakshana model
(00:25:41) - Jawahar Navodaya Vidyalaya
(00:30:01) - Dakshana's selection process
(00:34:09) - Warren Buffett's philanthropic approach
(00:41:49) - Chuck Feeney
(00:44:01) - Akshaya Patra Foundation
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Session at The University of Nebraska, Omaha on May 3, 2024.
(00:00:00) - Introduction
(00:02:53) - Circle the Wagons
(00:08:18) - Intrinsic Value vs. Owners' Intrinsic Value
(00:16:47) - Starbucks
(00:17:34) - Ken Langone: Home Depot
(00:20:13) - Berkshire's 12 best decisions in 58 years; See's Candies vs Coca Cola
(00:27:22) - Evaluating the management team
(00:32:23) - Advice for young investors
(00:33:48) - My educational journey
(00:38:19) - Memories of Charlie
(00:43:24) - Learnings from Charlie Munger
(00:45:54) - Cloning is the best model; Chipotle
(00:49:25) - Heads I win; Tails I don't lose much
(00:51:46) - CONSOL Energy vs. IPSCO
(00:57:01) - Value investing
(00:59:05) - Impact of macro-economic factors
(01:01:13) - Passing on value system to your kids
(01:05:01) - Loss aversion: Minimizing risk
(01:07:35) - Debt-free businesses are best
(01:10:32) - Index investing
(01:11:55) - Cryptocurrency
(01:12:49) - Knowledge is cumulative
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Q&A session with Dakshana Scholars at the JNV Pune on December 25, 2023
(00:00:00) - Introduction
(00:00:51) - One of Dakshana’s best alums: T. Ashok Kumar
(00:05:00) - Public speaking, lifelong advantage: Toastmasters
(00:08:27) - Education system in India vs. US
(00:17:48) - Merit over Money
(00:23:39) - Rule of 72
(00:34:12) - Maximizing Social Impact
(00:35:49) - Don't Worry About Low Scores
(00:41:39) - Marcus Aurelius: Failure is the key to Success
(00:44:38) - Clone Great Ideas
(00:53:09) - Pursue Happiness
The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be financial, legal, accounting, tax, or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation, or needs, and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
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Mohnish Pabrai's Interview at My First Million Podcast on April 4, 2024.
(00:00:00) - Introduction
(00:00:34) - Why entrepreneurs make the best investors
(00:03:09) - Buffett's early entrepreneurial adventures
(00:08:13) - Buffett's introduction to Ben Graham
(00:11:39) - See's Candies
(00:17:59) - My entrepreneurial journey
(00:30:25) - Entrepreneurs don’t take risks
(00:32:36) - Richard Branson: Virgin Atlantic
(00:36:19) - The Patels' motels business in the US
(00:41:16) - Introduction to Warren Buffett
(00:46:12) - Pabrai Funds
(00:54:37) - Lunch with Warren Buffett
(00:59:16) - Learnings from Buffett: Be a harsh grader
(01:05:32) - Dhandho Investing: Heads I win, Tails I don’t lose too much
(01:07:21) - IPSCO
(01:09:09) - Investing in coal
(01:10:12) - Private vs. Public auction-driven markets
(01:12:53) - Index funds
(01:14:20) - What Puddy (of Seinfeld) can teach us about investing!
(01:17:21) - Compounding; The rule of 72
(01:22:40) - Berkshire's 12 best decisions; Ajit Jain
(01:29:02) - John Templeton: Trouble is opportunity
(01:29:56) - Cryptocurrency
(01:31:01) - Nick Sleep; Amazon
(01:36:21) - The Walton's Family; Walmart
(01:37:13) - Reysas
(01:42:26) - Capital allocation: Meta
(01:44:13) - Elon Musk
(01:46:11) - Learnings from Charlie
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
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Mohnish Pabrai's Q&A session with Dakshana scholars at the JNV Bangalore Urban on December 24, 2023
(00:00:00) - Introduction
(00:00:29) - Cloning Super 30
(00:03:50) - Rule of 72
(00:09:15) - Ultra-high Social Return on Invested Capital
(00:17:16) - Integrity in Philanthropy
(00:22:38) - Akshaya Patra: The best of the best!
The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be financial, legal, accounting, tax, or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation, or needs, and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
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Mohnish Pabrai's Session at The Investor’s Podcast on April 1, 2024
(00:00:00) - Introduction
(00:01:44) - TransTech
(00:03:39) - Managing other people’s money
(00:08:54) - My journey in investing
(00:11:51) - The happiness equation
(00:17:12) - Learnings from Buffett; Be a harsh grader
(00:22:06) - The importance of truth and candor
(00:24:06) - Bridge vs. Poker
(00:28:59) - Infinite games
(00:30:56) - McDonalds
(00:34:02) - Boeing
(00:36:12) - Processing information from books
(00:40:24) - Pabrai Fund's track record
(00:45:25) - The game of investing
(00:49:20) - The Dakshana Foundation; Philanthropy
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Session with Massachusetts Institute of Technology's Brass Rat Investments on March 12, 2024
(00:00:00) - Introduction
(00:02:03) - Berkshire's 12 great decisions in 58 years
(00:05:06) - See's Candies vs. Coke
(00:11:55) - Burlington Northern Santa Fe Railroad
(00:16:54) - The Intrinsic value of a stock
(00:20:52) - Learnings from Charlie Munger
(00:27:24) - The Dakshana Foundation
(00:33:17) - Sergio Marchionne: Fiat Chrysler
(00:38:59) - Identifying investment opportunities
(00:47:35) - Finding Anomalies; Seinfeld: Is this anything?
(00:52:56) - Investing in Turkey; Coca-Cola Icecek
(00:56:28) - A day in my life
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Q&A session with Dakshana scholars at the JNV Kottayam on December 21, 2023.
(00:00:00) - Introduction
(00:01:53) - Dakshana scholar: T Ashok Kumar
(00:10:49) - The Dakshana model
(00:21:17) - Rule of 72
(00:26:05) - Cloning Super 30; Anand Kumar
(00:35:05) - Giving back to society
(00:37:34) - Be a harsh grader
(00:45:15) - Inner scorecard vs. Outer scorecard
(00:48:18) - My educational journey
(00:51:25) - My entrepreneurial journey
(00:53:35) - Dakshana's objectives
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Q&A session with Dakshana scholars at the JNV Bangalore (Rural) on December 24, 2023.
(00:00:00) - Introduction
(00:01:09) - Introduction to Buffett and Power of compounding
(00:03:55) - Rule of 72
(00:13:38) - Overcoming challenges at Dakshana
(00:21:20) - Caste reservation vs. Income based system
(00:30:24) - Handling the global financial crisis
(00:34:08) - Cloning is a powerful mental model
(00:37:27) - My educational journey
(00:40:31) - My introduction to investing; Peter Lynch
(00:42:17) - Reysas
(00:46:47) - Work preferences
(00:50:03) - Find your calling in lifeThe contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
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Mohnish Pabrai’s session with YPO’s Mosaic Chapter on March 20, 2024.
(00:00:00) - Introduction
(00:02:05) - Friendship with Charlie Munger
(00:04:22) - Tom Peters; Humans aren’t good cloners
(00:07:39) - Microsoft
(00:09:24) - Berkshire's investment in See's Candies
(00:11:18) - Charlie was Ben Franklin reincarnated!
(00:16:56) - Charlie's influence over Warren Buffett
(00:21:14) - Charlie's mental models; Human reciprocation theory
(00:27:40) - Investment discussions with Charlie
(00:31:37) - Adam Grant: Give and Take
(00:39:50) - Lifetime ban at an LA casino
(00:44:07) - Poor Charlie's Almanack
(00:46:35) - Charlie's inheritance
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Session with Columbia Business School (CSIMA) on February 14, 2024.
(00:00:00) - Introduction
(00:01:28) - Berkshire's 12 great decisions
(00:04:52) - Burlington Northern Railways
(00:07:49) - See’s Candies: Berkshire’s big home run!
(00:12:48) - Evolution of my investment philosophy
(00:16:04) - Berkshire without Charlie
(00:20:06) - Be a harsh grader
(00:21:49) - Auto dealership business; OEMs vs. EVs
(00:25:38) - Evaluating a business
(00:28:50) - Met-coal
(00:31:18) - IPSCO vs. CONSOL
(00:39:06) - Circle of competence
(00:41:08) - Diversification of portfolio
(00:44:12) - Start your journey early
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Session at the SumZero Virtual Investor Summit 2024 on February 8, 2024.
(00:00:00) - Introduction
(00:01:05) - Meta
(00:03:59) - Google vs. Microsoft
(00:08:17) - Dinner with Bill Gates
(00:12:30) - TAV Airport
(00:20:23) - Investing in coal; David Einhorn
(00:25:23) - Auto OEMs
(00:27:15) - Reysas
(00:30:14) - 20% Office Vacancy Rate! A 45-year high!
(00:33:32) - Macroeconomic factors
(00:36:58) - Charlie Munger; LA Country Club
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Q&A with Value Education Society at London School of Economics on January 30, 2024.
(00:00:00) - Introduction
(00:01:59) - Seinfeld: Is this anything?
(00:04:26) - The Dhandho Investor
(00:05:34) - Ferrari: Sold too soon
(00:06:46) - Evaluating management; Fiat Chrysler
(00:11:48) - Stellantis: Carlos Tavares
(00:12:50) - Elon Musk vs. Chuanfu Wang
(00:16:27) - Learnings from Charlie Munger
(00:20:11) - Be a shameless cloner
(00:24:46) - My process of evaluating a business
(00:26:41) - Advice to students
(00:30:09) - Auction-driven markets: Microsoft
(00:34:59) - Pabrai Investment Funds
(00:38:34) - When to sell a stock
(00:41:37) - Ferrari: A rich man's expression of wealth
(00:43:37) - AI in investing
The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. -
Mohnish Pabrai's Presentation and Q&A at FLAME University on December 25, 2023.
(00:00:00) - Introduction
(00:04:52) - Coca-Cola Icecek vs. Varun Beverages
(00:05:45) - Varun Beverages
(00:12:47) - Anadolu Efes & Coca-Cola Icecek
(00:28:07) - Investing in Turkiye
(00:33:02) - Reysas
(00:44:01) - Valuations matter - Microsoft (1999-2015) & Coca-Cola (1998-2011)
(00:49:30) - Thou shall not have an investing team
(00:54:08) - Portfolio sizing
(00:55:31) - TAV Airports
(01:03:28) - Investing in China
(01:05:49) - Selling a stock; Varun Beverages
(01:07:56) - Dividends: EFES
(01:09:03) - Currency risk with Coca-Cola Icecek
(01:11:47) - Evaluation of a business
(01:16:23) - Dakshana
(01:24:15) - Macro-economic factors in Turkey
(01:29:05) - Fiat Chrysler
(01:30:56) - Ferrari: The most Incredible Moat
(01:42:49) - Investing in global markets
(01:45:22) - Friendship with Charlie and Warren
(02:02:24) - Rick Guerin
(02:16:52) - Nick SleepThe contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
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