Top 10 things to clone from Mohnish Pabrai:
(A small thread wishing @MohnishPabrai a very Happy Birthday)
(A small thread wishing @MohnishPabrai a very Happy Birthday)
1) Look for No-Brainers:
I like buying easy businesses which any idiot can run. Such businesses gush out cash. I don’t like complex or difficult businesses.
I like buying easy businesses which any idiot can run. Such businesses gush out cash. I don’t like complex or difficult businesses.
2) Margin of Safety:
Heads I win, tails I don’t lose much.
Heads I win, tails I don’t lose much.
3) Have extreme Patience:
You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting.
You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting.
4) Circle of Competence:
The good thing about getting wealthy is we don't need to understand a lot of things.
The good thing about getting wealthy is we don't need to understand a lot of things.
5) Keep it Simple:
My take has always been that you're likely to make the most money with the ideas that are the simplest.
My take has always been that you're likely to make the most money with the ideas that are the simplest.
6) Waiting for the Right Pitch:
The single biggest advantage a value investor has is not IQ. Its Patience and Waiting.
The single biggest advantage a value investor has is not IQ. Its Patience and Waiting.
7) Be singularly Focused like Arjun:
There is a need to have focus on the business, and only the business.
There is a need to have focus on the business, and only the business.
8) Avoid Shorting:
The lowest price a company's stock can go to is zero, but there's an unlimited upside.
The lowest price a company's stock can go to is zero, but there's an unlimited upside.
9) On Philanthropy:
Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.
Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.
10) Joy is in the Journey:
Life is a journey and the journey is the destination.
Life is a journey and the journey is the destination.
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