Chai with Pabrai

Mohnish Pabrai's Interview with Brandon van der Kolk at New Money on July 21, 2026.

(00:00:00) - Introduction (00:00:35) - Investing in Berkshire Hathaway Class B shares (00:03:02) - Berkshire Hathaway: Handling a trillion-dollar portfolio (00:06:19) - Berkshire's investment in Google (00:09:36) - The gold rush: Memory businesses; Micron (00:12:36) - Kaspi (00:16:19) - Your deepest desire is your destiny; Finding stocks on Value Investors Club (00:22:15) - Invest in your highest conviction bets (00:25:50) - How to decide about investing in a stock; Adobe vs. Kaspi (00:28:44) - SpaceX; Elon Musk (00:32:54) - The too hard pile (00:35:59) - Evaluating the management; NVR (00:39:55) - Focus: The most important mental model (00:41:20) - When to exit from a position; Impact of business moats 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Mohnish Pabrai's Interview with Kim Kiho at Knowledge Inside podcast on June 8, 2026.

(00:00:00) - Introduction (00:01:44) - Lunch with Warren Buffett vs. Eric Schmidt; Introduction to Charlie Munger (00:11:47) - Impact of declining population of South Korea; SK Hynix, Samsung & Micron (00:17:19) - KOSPI (00:17:57) - My Investment checklist - an inspiration from the FAA; Buffett's Dexter Shoes investment (00:25:27) - Three most important items in a checklist; IKEA & Amorepacific (00:31:19) - Active vs. Passive investing; Look for risk-free investments (00:35:10) - Investing in Turkey; Reysas (00:39:24) - The Dhandho investing: Heads I win, Tails I do not lose much (00:41:20) - Investing in AI; Do not buy shiny items (00:43:39) - How to build wealth; The Rule of 72 & The Manhattan island deal in 1623 (00:50:24) - Giving back; The Dakshana Foundation (00:53:52) - Advice to listeners 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Mohnish Pabrai's Interview with Shaan Puri at My First Million on May 5, 2026.

(00:00:00) - Introduction (00:00:30) - Value investing in the US; Importance of patience in investing (00:02:15) - Mental models: The mistress is always hotter than the wife (00:04:58) - Introduce randomness in your life; Peter Lynch's One Up on Wall Street (00:08:12) - Elon Musk (00:09:42) - From admiring to executing; Sam Walton & Cloning (00:13:24) - Tesla; Blue Origin vs. SpaceX (00:14:10) - Randomness & Cloning; Farm Con & Kevin Van Trump to Milk road (00:16:40) - McDonald's vs. Burger King (00:17:05) - The Bedrock model: Take a simple idea and take it seriously; Turkey vs. Indian markets (00:20:39) - Mental model conflicts; Circle of competence (00:23:13) - The salad oil crisis; Buffett's stake in AmEx and Disney (00:26:12) - Traits of great investors: Keep investing simple; Warren's Too Hard Pile (00:30:27) - Aksarben racetrack and Buffett's tickets adventure; Moody's Manual (00:33:02) - Japanese Company Handbook; Look for needles in haystacks (00:34:40) - Stock market: Church with a Casino (00:38:42) - Lunch with Warren Buffett; Leverage lesson from Rick Guerin (00:41:39) - Inner scorecard vs. Outer scorecard (00:43:25) - Cash and capital allocation at Berkshire Hathaway (00:45:14) - My best investments; Investing in Turkey - Reysas & TAV Airports (00:54:57) - Active vs. Passive investing (00:57:22) - Business Moats; McDonald's & FICO (00:59:25) - Investing with AI (01:02:58) - Constellation Software Services; Mark Leonard (01:09:45) - GLP-1 (01:10:48) - Bitcoin vs. Gold (01:11:32) - Do not die at 25 and get buried at 75; Get your music out (01:15:37) - Studying great investors: Ed Thorp (01:20:45) - Ken Griffin: Citadel (01:23:01) - Advice to listeners: Lead an aligned life - My owner's manual by Jack Skeen (01:28:08) - Guy Spier's letter to me 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Mohnish Pabrai's Interview with Stig Brodersen at The Investor's Podcast on March 23, 2026.

(00:00:00) - Introduction (00:00:41) - Berkshire Hathaway: Warren Buffett vs. Greg Abel (00:04:39) - Greg Abel vs. Ajit Jain; Compensation at Berkshire (00:08:15) - Investing horizon of 50-100 years; Berkshire Hathaway vs. S&P 500 index (00:09:48) - Running my own company and team; Delegation and structuring (00:12:34) - Pabrai Wagons ETF (00:13:24) - Inner scorecard vs. Outer scorecard (00:16:16) - Investing in Turkey; Micro trumps the macro (00:18:44) - Diversification of portfolio; Walmart (00:21:25) - Constellation Software Services; Mark Leonard (00:25:14) - Frontline; Micheal Burry (00:29:58) - Met coal vs. IPSCO; CONSOL Energy & AMR (00:35:48) - Selling a stock; Walmart and Nifty 50 in 1970's (00:39:49) - Portfolio concentration (00:41:24) - What I Learned About Investing from Darwin by Pulak Prasad; Microsoft & Walmart (00:44:22) - Guy Spier 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization. The interview host is an investor in Pabrai Funds and therefore has a financial interest in the funds' performance, which creates a potential conflict of interest. The host was not compensated for this interview. The views expressed are those of the host and Mohnish Pabrai and do not constitute investment advice or a recommendation to invest.

Mohnish Pabrai's Q&A session with Dakshana scholars at the JNV Bangalore Urban, Karnataka, India on December 25, 2025.

(00:00:00) - Introduction (00:00:31) - Charlie Munger's mental models (00:05:40) - The Karam Yogi model; Mukesh Ambani & Jio (00:09:45) - Books: Time travel for entrepreneurs (00:12:01) - The Founders Podcast (00:16:01) - Giving back through Dakshana (00:20:29) - Upanishads: Your deepest desire is your destiny (00:24:13) - Building Dakshana: Cloned from the Super 30 model (00:33:32) - Follow your passion, success follows naturally (00:35:10) - With hard work think smart (00:36:42) - Clone smartly, compete confidently (00:39:05) - Technology is overrated, follow your passion (00:42:48) - Growth begins outside comfort zone; Toastmasters (00:46:25) - Cloning Dakshana from Super 30; Anand Kumar (00:50:36) - Human reciprocation mental model (00:57:28) - Execution and determination make the idea successful (01:00:29) - Life's reverses; Charlie's No self-pity mode The contents of this audio 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.

Mental Models for Exceptional Capital Allocation by Mohnish Pabrai at Heilbrunn Center for Graham and Dodd Investing on April 21, 2026.

(00:00:00) - Introduction (00:02:03) - Charlie Munger's mental models (00:03:54) - Model 1: The Bedrock model: Take a simple idea and take it seriously (00:04:51) - Model 2: Ben Graham's three ideas on markets (00:05:28) - Model 3: Do not overdose on Ben Graham; Poor Charlie's Almanack, Philip Fisher, and Pulak Prasad (00:06:27) - Model 4: Buffett's lifetime 20-punch card (00:07:15) - Model 5: Stay in the epicentre of your circle of competence; John Arrillaga (00:09:09) - Model 6: A high error rate is guaranteed in investing (00:09:26) - Model 7: Circle the wagons: the 4% rule (00:10:36) - Berkshire's 12 best decisions in 60 years (00:12:02) - Mistakes in investing: Ferrari, Progressive Insurance & Goldman Sachs (00:12:55) - Model 8: Do not cut flowers and water weeds; The Nifty 50 crash in the 1970s & Walmart (00:15:34) - Model 9: Be a shameless cloner; VIC & Dataroma; Gimat Gross (00:16:43) - Model 10: History does not repeat itself; Investing in Turkey & Reysas (00:19:50) - Model 11: Explain your investment thesis in 3-4 sentences to a 10-year old (00:19:58) - Model 12: You always need a rope to get out of the deepest well (00:23:14) - Model 13: Nick Sleep; Zen and the Art of Motorcycle Maintenance (00:26:52) - Model 14: Thou shall not use Excel (00:27:17) - Model 15: Use a pre-investment checklist (00:28:06) - Model 16: Be singularly focused like Arjuna (00:29:27) - Read the footnotes; Turn every page: Robert Caro (00:31:16) - Model 17: Enjoy hunting for needles in haystacks; Buffett's childhood entrepreneurial adventures (00:33:40) - Japanese Company Handbook; My introduction to Charlie Munger & Debbie Bozanek (00:37:27) - Model 18: Your deepest desire is your destiny (00:38:53) - Model 19: You should always have someone to discuss your investment ideas with; Li Lu (00:40:45) - Model 20: The mistress is always hotter than the wife! (00:41:12) - Model 21: Neither a short-term borrower nor a long-term lender be (00:41:33) - Model 22: Introduce randomness into your life; Peter Lynch's One up on Wall Street (00:43:11) - Model 23: Be a Swiss Army knife (00:43:24) - Model 24-26: Focus on spin-offs, uber cannibals & spawners; Alpha-Metallurgical Resources (00:44:02) - Model 27: Arbitrage is wonderful; Transocean vs. Valaris (00:44:17) - Model 28: Heads I win, Tails I don't lose much!; IPSCO and CONSOL Energy (00:46:10) - Model 29: Focus on low-risk; high uncertainty bets (00:46:45) - Model 30: Do not skim off the top (00:47:23) - Book recommendations: Poor Charlie's Almanack, Influence & Excellent advice for living (00:47:41) - Investing in Turkish vs. Indian markets (00:50:17) - Follow your passion 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Mental Models for Exceptional Capital Allocation by Mohnish Pabrai at The University of Nebraska, Omaha on May 1, 2026.

(00:00:00) - Introduction (00:02:11) - Charlie Munger's mental models (00:03:43) - Model 1: The Bedrock: Take a simple idea and take it seriously (00:04:06) - Model 2: Ben Graham's Fundamentals (00:04:59) - Model 3: Do not overdose on Ben Graham; Poor Charlie's Almanack, Philip Fisher, and Pulak Prasad (00:05:16) - Model 4: Buffett's lifetime 20-punch card (00:06:05) - Model 5: Stay in the epicentre of your circle of competence; John Arrillaga (00:07:52) - Model 6: A high error rate is guaranteed in investing (00:08:06) - Model 7: Circle the wagons: the 4% rule (00:08:44) - Berkshire's 12 best decisions in 60 years (00:09:41) - Mistakes in investing: Ferrari, Progressive Insurance & Goldman Sachs (00:12:10) - Model 8: Do not cut flowers and water weeds (00:13:02) - Model 9: Be a shameless cloner; VIC; Dataroma & SumZero (00:15:11) - Model 10: History does not repeat itself - but it does rhyme (00:16:16) - Model 11: Explain your investment thesis to a 10-year old in 3-4 sentences (00:16:41) - Model 12: You always need a rope to get out of the deepest well (00:20:50) - Model 13: Pursue quality intensely; Nick Sleep, Zen and the Art of Motorcycle Maintenance (00:25:31) - Model 14: Thou shall not use Excel (00:25:52) - Model 15: Develop and use a pre-investment checklist (00:27:54) - Model 16: Be singularly focused like Arjuna (00:29:31) - Read the footnotes; Turn every page: Robert Caro (00:31:44) - Model 17: Enjoy hunting for needles in haystacks; Buffett's childhood entrepreneurial adventures (00:33:41) - Japanese Company Handbook; My introduction to Charlie Munger & Debbie Bozanek (00:38:02) - Model 18: Your deepest desire is your destiny (00:41:15) - Model 19: You should always have someone to discuss your investment ideas with; Li Lu (00:42:53) - Model 20: The mistress always looks hotter than the wife! (00:43:30) - Model 21: Neither a short-term borrower nor a long-term lender be (00:43:54) - Model 22: Introduce randomness into your life; Peter Lynch's One up on Wall Street (00:46:28) - Model 23: Be a Swiss Army knife (00:46:36) - Model 24-26: Focus on spin-offs, uber cannibals & spawners (00:47:18) - Model 27: Arbitrage is wonderful; Rupert Murdoch (00:48:26) - Model 28: Heads I win, Tails I don't lose much!; IPSCO and CONSOL Energy (00:51:43) - Model 29: Focus on low-risk; high uncertainty bets (00:52:56) - Model 30: Do not skim off the top (00:53:37) - Book recommendations: Poor Charlie's Almanack, Influence & Excellent advice for living (00:54:48) - Importance of the Bedrock model (00:55:30) - Finding great businesses (00:58:11) - Focusing on my deepest desire (00:59:23) - Berkshire Hathaway A-shares (01:00:35) - Intrinsic value of a company (01:02:17) - The Founders Podcast & Value Investors Club (01:05:34) - Pursue your passion (01:07:49) - Making of a Great American Capitalist by Lowenstein (01:09:05) - Family-run businesses; Walmart (01:10:24) - The Dakshana Foundation & Giving back (01:12:45) - Micron (01:13:43) - Warren's Too Hard pile & Charlie's pie-counter trips 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.

Mental Models for Running Startups and Businesses, SXSW 2026 on March 16, 2026.

(00:00:00) - Introduction (00:00:28) - Charlie Munger's mental models (00:01:52) - Model 1: The Bedrock model: Take a simple idea and take it seriously (00:02:31) - Model 2: Truth vs. Trust; David Hawkins: Power vs. Force (00:05:43) - Costco (00:07:56) - Model 3: Your deepest desire is your destiny (00:09:40) - Model 4: Heads I win; Tails I don't lose much; Jeff Bezos (00:10:36) - How to start a business without capital (00:12:44) - Model 5: Be a shameless cloner; Sam Walton & Walmart and Bill Gates & Microsoft (00:14:49) - Model 6: Use hacks to improve yourself; Be a harsh grader (00:16:02) - Model 7: Hire slow fire fast (00:16:53) - Model 8: Incentives are more powerful than you think (00:17:51) - Model 10: Pursue quality intensely; Zen and the art of motorcycle maintenance by Robert Pirsig (00:18:50) - Model 11: Focus on durable moats (00:19:16) - Model 12: The purpose of business is not to make money (00:19:45) - Model 13: Outsourcing smaller tasks (00:20:39) - The latticework of mental models; Listen to your customer (00:24:07) - Focus on taking larger market share (00:25:19) - Model 14: Go all-in on no-brainers; Founders Podcast, Business Breakdowns & Acquired podcasts (00:28:54) - Book recommendations: Poor Charlie's Almanack, Influence & Excellent Advice for Living (00:29:27) - Duan Yongping: Fast is slow (00:30:56) - Lifetime ban at a casino in Vegas; Blackjack (00:33:09) - Exponential effect of implementing the models together (00:34:24) - Benefit of mental models to non-venture backed businesses (00:35:12) - El Cortez casino in Las Vegas; Blackjack (00:41:49) - Mental models for creative professionals; Seinfeld's Is This Anything? 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. Thumbnail Photo credit: Nick Piacente

Mohnish Pabrai's Q&A session with Dakshana scholars at JNV Pune, Maharashtra, India on December 25, 2025

(00:00:00) – Introduction (00:01:09) - Charlie's mental models: Take a simple idea and take it seriously (00:03:13) - Be a Karam Yogi (00:07:12) - Focus at improving human lives: Narayana Healthcare Systems (00:10:52) - Purpose over profit always wins (00:13:47) - Inner scorecard beats outer approval (00:16:06) - Cloning: Anand Kumar and Super 30 (00:19:56) - Learn to build from zero: The Origin and Evolution of New Businesses (00:23:02) - The Founders Podcast (00:28:40) - Singular focus: Dronacharya & Arjuna - eye of the bird (00:32:18) - Your Deepest Desire Is Destiny (00:34:10) - Adversity is part of life 00:36:30) – Toastmasters (00:37:46) - Usain Bolt from Jamaica; Illustrated Weekly of India: Khushwant Singh (00:44:00) - Take a decision and move forward (00:45:18) - Be the change you wish to see (00:47:03) - Principles create advantage in life; The Founders Podcast (00:50:12) - Focus on relevant things in life (00:56:35) - Rule of 72 (01:00:04) - The wealth creation paradox

The contents of this audio 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 Dakshana Valley, Pune, Maharashtra, India on December 26, 2025. (00:00:00) - Introduction (00:00:37) - Breaking the question pattern (00:03:22) - Overcoming hardships through learning; YouTube & Muskan Soni (00:05:41) - Mental models - take a simple idea and take it seriously; Lyndon Johnson (00:09:57) - Upanishads - Your deepest desire is your destiny (00:13:43) - Belief comes before capability; Elon Musk & the reuse of rockets (00:18:18) - Dakshana: Cloned from Anand Kumar's Super 30 (00:30:47) - Robert Caro's books on Lyndon Johnson (00:37:44) - Be a harsh grader while choosing your circle (00:40:46) - Mistakes are a blessing (00:44:04) - Attraction towards the opposite gender is natural (00:47:30) - World changes if you have a burning desire (00:48:21) - Karam Yogi: You cannot make money if you want to make money (00:51:16) – Google The contents of this podcast 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 Fireside chat with Ben Graham Centre at the 5th European Value Investing Conference on October 14, 2025.

(00:00:00) - Introduction (00:00:58) - Cloning is the best mental model (00:02:14) - Human aversion to cloning (00:04:00) - Simplicity: Highest level of intellect (00:05:35) - Cloning the Buffett Partnerships (00:09:38) - Learnings from Buffett and Munger: Portfolio concentration (00:14:49) - Asymmetry in investing: Amazon (00:16:41) - Power vs. Force: David Hawkins (00:21:26) - The Dakshana Foundation: Cloned from Super 30 (00:27:06) - Success rate of the Dakshana Foundation (00:29:36) - If you can happily watch paint dry, you can be a good investor! 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.

Q&A session with Nisaba Godrej & Omar Momin and Dakshana Scholars at Dakshana Valley on July 25, 2025 (00:00:00) – Introduction (00:00:49) - How youth can build a developed nation (00:02:48) - Grow together, Rise together, Win together (00:04:57) - Excellence with character changes the world (00:07:51) - Big impact starts with small actions (00:09:47) - Private innovation for public good; Arvind Eye Care & Infinite Vision (00:16:26) - Listen to your inner voice (00:17:35) - Curiosity over curriculum (00:20:01) - Integrity above everything (00:22:08) - Better schools for brighter future 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.

Mohnish Pabrai's Interview session with Steven Bartlett at The Diary of a CEO on July 13, 2025.

(00:00:26) - Cloning as a mental model; Bill Gates and Sam Walton (00:05:11) - Entrepreneurs do not take risk (00:09:23) - Focus on offering gaps (00:13:11) - Understand customer requirement; Google Glass vs. Meta (00:16:20) - Make your business cost-effective; Walmart & LVMH (00:18:24) - Getting your music out; Bill Gates & Paul Allen (00:21:40) - Find the calling in your life (00:23:54) - My Owner's Manual (00:29:04) - Capital investment in start-ups; Sir Richard Branson (00:36:59) - Successfully reaching out to stakeholders (00:41:16) - My family startups in the childhood; Cold calling (00:46:21) - Adam Grant: Givers, takers and matchers (00:48:26) - Recruiting the right people; Elon Musk & Steve Jobs (00:50:43) - Fire fast, Hire slow (00:51:54) - The three pillars of investing (00:53:01) - Sale of Manhattan by Indians in 1623 & Rule of 72 (00:58:07) - Rules of investing; Saving the first dollar; Index investing (01:01:52) - The Dhandho Investor; Minimising risk with intact returns (01:06:20) - Heads I win, Tails I don't lose too much (01:07:15) - Offering gaps (01:11:30) - Business moat (01:12:29) - Apple (01:14:07) - Traits of great founders; IKEA (01:16:49) - Fewer, bigger and infrequent bets; Venture businesses vs. Stock markets (01:19:07) - Day trade (01:19:34) - Circle the wagons (01:22:00) - Learning from mistakes; Fiat Chrysler's Ferrari (01:24:31) - Golf 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Mohnish Pabrai's Session with Divya Narendra at SumZero on June 10, 2025.

(00:00:00) - Introduction (00:00:57) - Berkshire Hathaway: Greg Abel (00:07:59) - Mag 7 (00:11:16) - Microsoft: Dinner with Bill Gates (00:16:45) - Investing in commodities (00:18:59) - Met Coal & Berkshire's investment in Burlington Northern Railroads (00:23:44) - Thermal Coal vs. Metallurgical Coal (00:26:28) - Learning from mistakes; Selling a stock (00:28:51) - Shipping and Offshore oil drilling businesses; Nobel & Valaris (00:32:09) - Challenges for the coal industry (00:36:11) - Investment in Turkiye -TAV Airports; Laguardia (00:38:25) - Indian Energy Exchange & National Stock Exchange (00:39:28) - Macroeconomic factors and impact on the portfolio (00:43:54) - Book recommendation; Buffett and Munger Unscripted (00:45:08) - Investing in global markets (00:46:06) - Portfolio concentration; Walmart & the Walton family (00:47:59) - Geopolitics 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 Sessions at University of Nebraska Omaha on May 2, 2025 and Heilbrunn Center for Graham and Dodd Investing at Columbia Business School on March 25, 2025.

(00:00:00) - Introduction (00:02:20) - Walmart vs The Nifty-Fifty (00:05:18) - Berkshire's 12 best decisions in 58 years; Ajit Jain (00:08:05) - Nick Sleep (00:12:06) - Learning from mistakes; Ferrari & Frontline (00:13:30) - Rules of becoming rich (00:16:15) - Walmart & the Walton Family (00:17:51) - Microsoft; Steve Balmer (00:23:21) - Coca-Cola (00:25:32) - Evolution of strategies (00:26:52) - Investment checklist (00:30:36) - Circle of competence (00:33:28) - Macroeconomic factors; Saudi Aramco & Ferrari (00:40:47) - Learnings from Warren and Charlie (00:43:02) - Golf vs. Investing (00:44:50) - Identifying opportunities; Moody's Manual and The Japan Company Handbook (00:50:33) - Duan Yongping: Oppo & Vivo (00:53:53) - Economic moats (00:55:51) - Impact of leverage; The Founder's Podcast: IKEA (00:58:51) - Capitalism in investing; Amazon (01:00:33) - Value investing for technology businesses: Amazon (01:05:40) - Index investing (01:07:38) - Microsoft vs. Apple; Bill Gates (01:13:01) - When to exit an investment (01:19:31) - Selecting a stock (01:20:41) - Circle of competence; John Arrillaga (01:23:50) - Investing in Turkiye; Reysas & TAV Airports (01:28:02) - Investing in coal businesses (01:31:58) - You can identify great businesses only after you own them (01:33:42) - Portfolio concentration (01:39:26) - Investing is watching the paint dry (01:42:17) - Coca-Cola; Hetty Green from The Founder's podcast (01:47:36) - Hedging an investment (01:48:45) - Investing in commodities 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 Interview with Stig Broderson at the Investors Podcast on April 15, 2025.

(00:00:00) - Introduction (00:00:59) - Opportunity Cost (00:03:23) - Nifty-50 in early 70's; Walmart (00:06:54) - Advice to 40-year-olds; Long runway (00:12:44) - Stoic philosophy by Marcus Aurelius: Adversity is a blessing (00:14:01) - Money vs happiness relationship (00:19:47) - My mathematical game: The Dakshana Foundation; Chuck Feeney (00:25:25) - Dakshana's selection criteria (00:29:20) - Dakshana's operational model (00:34:22) - Business moats (00:36:24) - Circle of competence (00:37:50) - Warren's "Too Hard Pile" (00:41:33) - Selecting an investment manager 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.

The interview host is an investor in Pabrai Funds and therefore has a financial interest in the funds' performance, which creates a potential conflict of interest. The host was not compensated for this interview. The views expressed are those of the host and Mohnish Pabrai and do not constitute investment advice or a recommendation to invest.

Mohnish Pabrai's Session with Ashoka Investment Club on April 22, 2025.

(00:00:00) - Introduction (00:00:47) - Charlie Munger's mental models; Poor Charlie's Almanack (00:07:38) - Cloning is the best mental model (00:08:45) - Sam Walton & Family; Walmart (00:10:36) - Microsoft (00:13:31) - Bridge (00:14:51) - Pabrai Funds: Cloned model from the Buffett Partnerships (00:17:41) - Selecting a stock (00:19:12) - Macro-economic factors; D-Mart & Shrimp farming in India (00:23:32) - Circle of competence; John Arrillaga (00:24:38) - Commodity producers; Saudi Aramco (00:27:26) - Look for anomalies, Investing in Turkiye & Reysas (00:33:54) - Learning from mistakes; Satyam Computers (00:39:35) - Nifty-50 in the 1970s; Walmart 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 Talk with Shaan Puri at the My First Million podcast on March 27, 2025.

(00:00:00) - Introduction (00:00:28) - Why the small investor has an advantage (00:02:51) - Investing $10K to make $1 Million (00:08:16) - Frontline (00:17:13) - Berkshire's 12 great decisions in 58 years (00:18:34) - Buffett's selection process: Moody's Manual (00:23:38) - Value Investor's Club (00:27:33) - The Japan Company Handbook (00:28:46) - Berkshire's investment in Japan (00:36:13) - Thou shall not use Excel (00:40:26) - Leverage: Rick Guerin (00:49:00) - Do not cut the flowers to water the weeds (00:51:21) - Costco (00:56:38) - My interactions with Charlie Munger & Warren Buffett (00:58:23) - Risk vs. Uncertainty (01:00:16) - Coca-Cola Icecek (01:01:42) - Warren's "Too Hard Pile" (01:03:01) - Circle of Competence: John Arrillaga (01:07:03) - Sam Walton: Walmart and Sol Price (01:12:18) - A power nap is good for productivity (01:15:39) - My owner's manual (01:21:52) - The Dakshana Foundation: A mathematical game (01:23:53) - Super 30: Model cloned by Dakshana (01:28:53) - Large inheritances cause more harm than good (01:31:35) - Mohnish's Blackjack System (01:37:46) - Michael Burry (01:41:21) - Rakesh Jhunjhunwala: Titan Industries (01:44:26) - Starting early to lengthen your runway (01:47:02) - Macroeconomic factors (01:47:37) - 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 Interview at The Money Mindset with Sonia Shenoy on February 15, 2025.

(00:00:00) - Introduction (00:01:20) - I am a single-player game player (00:03:01) - My friendship with Buffett and Munger (00:04:52) - Lunch with Warren Buffett (00:10:39) - Rick Guerrin (00:13:29) - Lessons learnt from Warren; The Inner scorecard (00:18:12) - Marcus Aurelius; The stoic philosophy (00:22:06) - Wealth is lost, nothing is lost; Health is lost, something is lost; Character is lost, everything is lost (00:26:05) - Index Funds (00:29:23) - Nifty-50; Walmart (00:32:53) - Patience is the best skill in investing; Infosys & Microsoft (00:36:04) - Separate a signal from the noise (00:37:52) - Selecting a stock; Warren's too-hard pile (00:41:14) - Investing in Turkiye; Reysas (00:46:39) - Look for illusionary smoke in the market (00:50:46) - Follow your passion in life (00:52:43) - Give meaning to life (00:55:34) - Money doesn't bring happiness (00:59:28) - Key lessons in life (01:05:54) - Good parenting is a key responsibility 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 Dakshana Valley, Pune on December 26, 2024.

(00:00:00) – Introduction (00:00:33) - Starting Without All Answers; Super 30 Model (00:05:08) - Dakshana's breakthrough with NVS (00:09:19) - Helping Millions Through Innovation (00:13:38) - Infinite Vision: Arvind Eye Care (00:20:53) - Trust builds unbeatable business models; Costco & DMart (00:26:43) - Your deepest desire is destiny (00:29:59) - Cloning and trustworthiness are the best mental models (00:35:45) - Power of compounding (00:41:39) - Think small, scale later effectively (00:44:03) - Great entrepreneurs start with nothing (00:44:50) - Honesty is the most lucrative policy 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.

Mohnish Pabrai's Q&A session with Dakshana Scholars at JNV Lucknow on July 14, 2024. (00:00:00) – Introduction (00:00:32) - Adam Smith and David Ricardo (00:04:03) - Success story of India's shrimp industry (00:09:24) - MSP and farm laws; India vs USA (00:14:37) - Japan's rapid post-war development (00:20:01) - Givers, Takers, Matchers & Dakshana (00:26:13) - Rule of 72 (00:31:53) - Robert Caro: Relentless research, unrivalled narrative (00:33:35) - Dakshana's Mission: Empowering Underprivileged Students (00:37:31) - Secret to success: Focus (00:41:42) - Upanishads on true desire 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.

Mohnish Pabrai's Interview at the Capital Compounders Show on February 25, 2025.

(00:00:00) - Introduction (00:00:53) - Move to Austin, Texas (00:09:52) - Age is just a number (00:11:27) - The Dakshana Foundation: A math game (00:15:57) - My 4 games – Bridge, Dakshana, Compounding & Golf (00:17:11) - Bridge with Warren & Charlie (00:21:46) - Bridge teaches probabilistic thinking (00:23:48) - Mosaic: Perspectives of Investing (00:24:44) - Cloning is the best mental model: Sam Walton & Bill Gates (00:31:29) - Sam Walton & Walmart (00:33:23) - Compounding (00:35:16) - The crash of Nifty-Fifty in 1973-74; Walmart (00:37:02) - Fiat Chrysler (00:38:09) - The Waltons' ownership in Walmart (00:42:18) - Frontline & Reysas (00:46:11) - Portfolio concentration; Steve Ballmer at Microsoft (00:49:39) - Uber Cannibals 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 Guest Lecture at Microsoft on November 15, 2024.

(00:00:00) - Introduction (00:01:49) - Microsoft; Bill Gates (00:03:19) - The future of AI (00:04:27) - Value vs. Growth investing (00:08:58) - IPSCO (00:13:13) - Reysas (00:15:47) - Starting with value investing (00:19:37) - My journey in investing; Introduction to Warren Buffett (00:22:45) - Cloning ideas: Walmart & Microsoft (00:24:35) - Microsoft: Vijay Vashi (00:31:51) - Find out your passion: Poor Charlie's Almanac (00:35:42) - The Dakshana Foundation (00:40:12) - Bill Gates' introduction to Warren Buffett (00:44:15) - Reliability and Trust (00:47:33) - Somasegar at Microsoft 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 Interview with John Mihaljevic at MOI Global on January 21, 2025.

(00:00:00) - Introduction (00:01:47) - Industrial Real Estate: First Industrial (00:06:38) - Boom and bust cycle - Oil & shipping businesses (00:09:14) - CONSOL Energy (00:12:08) - Coal businesses (00:21:08) - Frontline (00:26:03) - Micron (00:27:48) - Portfolio concentration (00:30:17) - Reysas (00:31:56) - Investing in Turkiye (00:34:21) - Evolution in investing style (00:35:40) - Evaluating the company's management (00:37:48) - Capital allocation for coal companies (00:40:55) - Risk vs. Uncertainty (00:42:36) - Circle of competence: John Arrillaga (00:44:32) - Look for anomalies in the market (00:48:42) - Book recommendation: The Joy of Costco 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 Cambridge Investment Banking Society at University of Cambridge on January 31, 2025.

(00:00:00) - Introduction (00:01:38) - Marcus Aurelius: Stoic philosophy (00:04:28) - Learning from mistakes (00:09:01) - Ignore Macroeconomic factors (00:11:57) - Value vs growth investing (00:14:58) - Investing in Turkey: Reysas (00:19:22) - Venture Capital: Bill Gurley (00:23:06) - Handling the 2008 financial crisis (00:24:12) - Skills for value investing (00:27:02) - Look for undiscovered opportunities; Warren's Swiss Army knife approach (00:30:22) - Handling the portfolio concentration and risks (00:33:49) - Sam Walton (00:36:31) - All knowledge is cumulative (00:38:43) - Nick Sleep 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 Talk with GreenHaven Road Partners Fund on October 29, 2024.

(00:00:00) - Introduction (00:02:08) - Public Charity status of the Dakshana Foundation (00:04:04) - Feedback loops in Capitalism and Philanthropy (00:09:27) - The Dakshana Foundation model: The inversion impact (00:12:09) - Indian Institute of Technology (IIT) (00:14:13) - Ashok T Kumar: Dakshana Scholar who ranked 63 at IIT (00:18:36) - Operating Mechanics of the Dakshana Foundation (00:19:55) - All India Institutes of Medical Sciences (AIIMS) (00:21:13) - The Dakshana journey (00:23:56) - Dakshana's success rate (00:27:14) - Success Academy (00:29:10) - Stay focused on the cause (00:31:11) - Micro is more relevant than macro (00:34:33) - Error rate 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 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.

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.

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.

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.

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.

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.

The interview host is an investor in Pabrai Funds and therefore has a financial interest in the funds' performance, which creates a potential conflict of interest. The host was not compensated for this interview. The views expressed are those of the host and Mohnish Pabrai and do not constitute investment advice or a recommendation to invest.

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 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 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 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 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 Interview at Morningstar, The Investor's Mind on December 1, 2023.

(00:00:00) - Introduction (00:02:52) - Lunch with Buffett; Be a harsh grader (00:07:42) - Impact of personal experiences in investing (00:11:44) - Handling the global financial crisis (00:15:45) - Breaking Bread with Charlie Munger (00:19:25) - 2009 Financial Crisis (00:22:51) - The inner vs the outer scorecard (00:24:44) - Leading an aligned life (00:28:04) - Playing Bridge

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 Sleep

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 at Oxford University - Oxford Alpha Fund on November 21, 2023.

(00:00:00) - Introduction (00:00:49) - My introduction to investing (00:04:29) - Circle of competence; John Arrillaga (00:08:14) - Nick Sleep (00:10:22) - Learning from mistakes (00:14:53) - Assessing management team (00:17:01) - Transdigm (00:21:15) - Japanese markets (00:25:19) - Uncertainties in investing (00:27:36) - Autonomy for investment managers (00:31:49) - UGMA: A great gift from Congress! (00:34:03) - The Dakshana Foundation (00:37:41) - Returns from philanthropic investments (00:46:02) - Akshaya Patra Foundation (00:51:59) - Advice to students 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 at Clemson University - Wall Street South Investment Club on November 13, 2023.

(00:00:00) - Auction-driven markets (00:02:07) - Berkshire's PetroChina investment (00:04:34) - Anomaly-based investing (00:05:27) - Reysas (00:08:36) - Macro-economic factors in investing (00:11:29) - Clemson to Austin (00:14:32) - Finding anomalies; Investing in Turkey (00:17:24) - Funeral home business (00:20:14) - 13F filings (00:21:30) - Car dealerships (00:29:05) - Lunch with Warren and Charlie (00:36:55) - Diversification (00:40:27) - The 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 conversation at Schroders - The Value Perspective podcast on October 10, 2023

(00:00:00) - Introduction (00:02:45) - My introduction to Warren Buffett (00:04:28) - Chuck Feeney: The Billionaire who wasn't (00:06:28) - The Dakshana Foundation (00:08:28) - Learnings from my childhood (00:14:21) - Cloning is a powerful mental model (00:15:50) - Microsoft: The most relentless cloner (00:17:33) - Sam Walton: Walmart (00:20:48) - Can cloning be competitive? (00:22:54) - Different styles of investing (00:25:16) - Ben Graham: GEICO (00:27:46) - Stone Trust Insurance: Francis Chou (00:35:20) - Berkshire's insurance investments (00:37:50) - Burlington Northern Railroad (00:42:12) - Improving probabilistic thinking (00:44:04) - Importance of portfolio concentration (00:45:43) - Ergodicity: The Walton family (00:48:31) - Investing in Turkey: Reysas (00:50:53) - Nick Sleep: Amazon (00:53:21) - Capital allocation (00:55:26) - Macro-economic factors in investing (01:00:49) - Book recommendation 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 at Boston College, Carroll School of Management on October 12, 2023.

(00:00:00) - Introduction (00:02:58) - Moody's Manual (00:08:11) - Japan Company Handbook (00:12:00) - Buffett's Amazing Five Japan Bets (00:16:23) - Lessons in investing: Search for anomalies (00:17:59) - Peter Kiewit and Sons (00:21:35) - ADP vs. Exxon (00:28:24) - IPSCO (00:32:43) - Rain Industries (00:35:11) - Reysas (00:41:10) - Fiat Chrysler; Ferrari (00:47:56) - Narrowing the investing universe; JetBlue Airlines (00:53:17) - Thou shall not use Excel (00:54:49) - Pulak Prasad: No leverage (00:59:05) - GM vs. Fiat Chrysler (01:01:30) - Steve Rattner (01:07:31) - Investing in distressed industries (01:11:39) - Error rate in investing (01:14:15) - TransTech (01:20:01) - My Owner's Manual (01:24:19) - Investing in Turkey (01:26:18) - Coca-Cola Icecek (01:34:40) - Learnings from Buffett and Munger (01:38:55) - Micron

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 Talk at the YPO Waterloo Austin on October 17, 2023.

(00:00:00) - Introduction (00:02:49) - The Manhattan deal by American Indians in 1626 (00:07:42) - Compounding: Eighth wonder of the world (00:08:14) - Queen Isabella's funding of Columbus discovery of America (00:11:35) - My daughter's introduction to compounding (00:15:18) - Factors of compounding (00:20:58) - Never interrupt compounding unnecessarily (00:25:15) - Large inheritances do more harm than good (00:28:17) - Chuck Feeney: The Billionaire Who Wasn't (00:33:47) - My journey of investing (00:40:27) - Berkshire's Twelve great decisions (00:43:19) - Entrepreneurship vs. Investing (00:45:29) - Owner's Manual (00:50:44) - Index investing (00:54:08) - Reysas (01:00:23) - Handling macro risks (01:01:17) - Understanding a business

Mohnish Pabrai's Q&A at Mendoza College of Business - University of Notre Dame on September 29, 2023.

(00:00:00) - Introduction (00:01:57) - When to sell a stock; Amazon (00:09:00) - Starting Pabrai Investment Funds (00:13:35) - Berkshire's Twelve great decisions (00:16:25) - Berkshire's Japanese investments (00:20:52) - Identifying compounders (00:26:07) - Charlie's mental models (00:27:41) - Association tendency – Coca-Cola (00:29:32) - Human reciprocation tendency (00:34:09) - Cloning: Chipotle vs. Baja Fresh (00:38:06) - Steve Rattner: Overhaul

(00:45:07) - Fiat Chrysler (00:47:25) - NVR (00:49:45) - Bridge vs. Investing (00:55:34) - The Dakshana Foundation

Mohnish Pabrai's Q&A session at the Harvard Business School on September 15, 2023

(00:00:00) - Introduction (00:01:26) - Heads I win; Tails I don't lose too much! (00:14:27) - My entrepreneurial adventures (00:22:59) - Starting Pabrai Investment Funds (00:29:24) – Thou shall not use Excel! (00:31:42) - Cloning the Buffett Partnership structure (00:38:45) - Diversification (00:41:07) - Investing in Turkiye; Reysas (00:45:21) - Lunch with Warren Buffett (00:51:55) – The Dakshana Foundation (01:03:59) - Adam Grant: Give and Take (01:08:58) - Chuck Feeney: The Billionaire Who Wasn't (01:13:56) - The Buffett Partnership (01:18:51) - Chris Davis: AIG (01:24:06) - Charlie Munger: The Psychology of Human Misjudgement (01:27:21) - Buffett – Munger Partnership (01:32:30) - Avoid leverage in life

Mohnish Pabrai's Interview at the Meb Faber Show on July 28, 2023.

(00:00:00) - Introduction (00:00:58) - My education at Clemson University (00:04:51) - My introduction to Warren Buffett and Bridge (00:12:32) - Compounding must be taught to 9th graders (00:17:51) - The Dakshana Foundation (00:29:27) - Holding on to your high conviction bets (00:31:14) - Shelby Davis (00:33:18) - Think like an entrepreneur when investing (00:38:38) - Investing in Turkey (00:44:42) - Macro Risks (00:47:40) - Investing in global markets (00:51:56) - Dinner with Bill Gates (00:54:41) - IPSCO (00:57:21) - Funeral businesses (01:00:17) - John Arrillaga

Mohnish Pabrai's Q&A with members of the Finance and Investment Cell at SRCC, Delhi on June 14, 2023.

(00:00:00) - Introduction (00:02:25) - Investing basics in school curriculums (00:05:58) - Investing in improving yourself (00:12:21) - Dhandho investing; Jugaad (00:15:30) - Employment opportunities in India vs the US (00:19:55) - Moving from passive investing to active management (00:23:33) - Handling investing mistakes (00:24:39) - Nvidia (00:26:30) - Microsoft (00:31:51) - Democratizing investing (00:33:56) - Better off focussing on the micro versus the macro (00:41:46) - Quality is more important than quantity (00:44:08) - ESG (00:47:28) - Venture Capital (00:52:27) - Bill Gates

Mohnish Pabrai's Q&A session with the Finance Club of IIT Patna on May 10, 2023

(00:00:00) - Introduction (00:02:28) - Value investing; Amazon (00:09:52) - Learnings from Charlie Munger; Doheny Ranch, California (00:18:23) - Be a harsh grader while choosing your friends (00:27:17) - Li Lu (00:33:15) - Investing in China (00:38:14) - Cryptocurrency & algorithmic trading (00:39:27) - Book recommendations (00:40:21) - Identifying multibaggers (00:42:13) - My investing journey (00:46:49) - Book recommendation: Poor Charlie's Almanack (00:48:28) - Adam Grant: Give and Take (00:54:22) - Identifying great businesses (01:02:31) - Lunch with Buffett

Mohnish Pabrai's Interview at the Investor's Podcast on April 25, 2023

(00:00:00) - Introduction (00:00:54) - Poor Charlie's Almanack; handling biases (00:02:55) - Investing in Turkey (00:06:12) - Circle the wagons (00:08:54) - Nifty 50 in 1970's (00:11:51) - Rakesh Jhunjhunwala (00:13:57) - Naspers (00:19:09) - Shinoken; share buybacks (00:24:08) - How has my investing changed over the years (00:26:07) - Stock based compensation (00:29:17) - Constellation: Mark Leonard (00:36:43) - Handling investment mistakes (00:40:32) - The importance of truth (00:45:55) - Being open to discuss finances

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.

The interview host is an investor in Pabrai Funds and therefore has a financial interest in the funds' performance, which creates a potential conflict of interest. The host was not compensated for this interview. The views expressed are those of the host and Mohnish Pabrai and do not constitute investment advice or a recommendation to invest.

Mohnish Pabrai's Q&A session with students at the JNV Lucknow on December 27, 2022

(00:00:00) - Introduction (00:00:51) - Usain Bolt; The Bolt Factory (00:11:09) - Khushwant Singh (00:14:59) - IIT vs. MIT (00:25:29) - Start specialising at the age of 11 (00:35:31) - Why is Brazil great at football? (00:43:31) - If I was the education minister in India (00:46:42) - Delhi school system (00:56:50) - Avoid looking back, focus on looking forward (01:01:35) - You are who your friends are (01:03:17) - Dakshana scholar: T. Ashok Kumar (01:07:16) - Handling family expectations

Mohnish Pabrai's Presentation and Q&A at the University of Nebraska, Omaha on May 5 2023

(00:00:00) - Introduction (00:02:22) - Buffett's 2022 Shareholder Letter (00:03:25) - Berkshire's dozen truly great decisions (00:07:16) - Naspers; Tencent (00:12:14) - Rakesh Jhunjhunwala; Titan (00:14:56) - Nick Sleep; Amazon (00:18:39) - Ben Graham; Geico (00:20:20) - Walmart vs. Nifty 50 (00:23:37) - Buffett's Coke investment (00:26:35) - Chuck Akre's Three-legged stool (00:29:51) - Compounding is the 8th wonder of the world (00:33:47) - Silicon Valley Bank (00:36:37) - Reysas (00:38:38) - Identifying great businesses (00:44:02) - Investing in Turkey (00:47:06) - Seritage (00:48:29) - Start specializing at the age of 11 (00:50:39) - Circle of competence (00:52:37) - Ajit Jain (00:57:18) - Index Investing

Mohnish Pabrai's Q&A session with students at the JNV Pune on December 25, 2022.

(00:00:00) - Introduction (00:01:51) - Be a continuous learning machine (00:04:09) - Entrepreneurs do not take risk (00:14:12) - MLK: I have a dream (00:17:59) - What happens if I lose all my money today? (00:28:48) - Inspiration for Dakshana (00:34:36) - Super 30: Anand Kumar (00:39:48) - Toastmasters (00:44:56) - Giving back to society (00:49:15) - Buddha: The key to happiness is elimination of desire (00:54:38) - You are who your friends are

Mohnish Pabrai's Q&A session with students at the Dakshana Valley, Pune on December 26, 2022.

(00:00:00) - Introduction (00:00:54) - Finding your calling in life (00:15:31) - Toastmasters (00:19:43) - Dakshana Scholar Satpal Singh (00:21:23) - Inspiration for starting Dakshana (00:28:22) - Anand Kumar: Super 30 (00:29:43) - The Dakshana journey (00:37:00) - The essence of life (00:45:53) - Nelson Mandela (00:50:56) - Marcus Aurelius: Stoicism (00:56:48) - Why did I choose India for Dakshana (01:10:51) - My journey – from a below average to topper student (01:19:36) - Handling adversities (01:24:33) - Dakshana Scholars T Ashok Kumar & Rajeev (01:34:46) - How to win friends and influence people – Dale Carnegie (01:37:48) - Charlie Munger's human reciprocation mental model (01:49:34) - Ben Franklin (01:53:43) - Cloning as a mental model

Mohnish Pabrai's Interview at the mint-Equitymaster Investor Hour on April 11, 2023 |

(00:00:00) - Introduction (00:01:00) - My childhood (00:12:52) - My journey towards investing (00:24:03) - Starting Pabrai Funds during the dot-com bubble (00:26:56) - IPSCO (00:30:33) - 2009 financial crisis (00:32:46) - The Fiat Chrysler Investment in 2012 (00:35:07) - Meeting Michael Burry in 2008 (00:38:47) - COVID-19 pandemic (00:44:32) - Satyam Computers & Blue Dart (00:53:08) - Rakesh Jhunjhunwala (00:54:34) - Anomaly-based investing (00:56:20) - Reysas (01:00:32) - Varun Beverages and Coca-Cola Icecek (01:05:08) - When to sell a stock? (01:08:35) - Equities vs other asset classes (01:13:21) - PeopleSoft (01:18:00) - Teaching kids about money (01:24:05) - Reading advice (01:28:32) - Dakshana Foundation (01:35:16) - Compounding is the 8th wonder of the world

Mohnish Pabrai's Q&A session with students at JNV Bundi on December 24, 2022

(00:00:00) - Introduction (00:01:09) - Enterprise Rent-A-Car only hires GPA below 2.5! (00:11:38) - Toppers do not do the best in life (00:14:32) - My journey - from a below average to a topper (00:18:40) - Dakshana: Of the Alums, By the Alums, For the Alums (00:23:19) - Be a continuous learner (00:28:33) - The Dakshana model and objectives (00:39:13) - Gandhi: Be the change you wish to see (00:40:38) - A man, a Plan, a Canal, Panama (00:49:26) - TransTech (00:54:13) - Ben Franklin (00:59:18) - Giving back to society (01:02:09) - Government Reservation System

Mohnish Pabrai's Talk and Q&A session with students at the University of Texas on February 28, 2023

(00:00:00) - Introduction (00:02:01) - Buffett's 2022 Letter to Shareholders (00:04:29) - Berkshire's Twelve great decisions (00:09:16) - Rakesh Jhunjhunwala (00:13:27) - Chuck Akre's three-legged stool (00:16:19) - Wally Park at LAX (00:18:35) - My investing journey (00:22:55) - Macroeconomic factors (00:27:04) - Investing in Turkey (00:30:27) - Reysas (00:40:14) - TAV Airports (00:44:02) - When to sell? (00:46:04) - Investing in the US (00:50:13) - Start specializing at age 11 (00:57:08) - Berkshire's Oil Investments (00:58:44) - Buffett's Oxy Bet (01:04:26) - Fiat Chrysler (01:12:31) - Ferrari: Sold too soon! (01:15:05) - The Dakshana 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 Q&A session with students at JNV Bengaluru (Urban) on December 23, 2022

(00:00:00) – Introduction (00:00:34) - Charles T. Munger Hall (00:05:32) - Ben Franklin (00:07:51) - Charlie's mental models (00:11:45) - The Cloned Dakshana Model (00:20:07) - Dakshana Scholar T. Ashok Kumar (00:23:55) - Judith Harris: No Two Alike (00:26:18) - Buddha: The key to happiness is elimination of desire (00:28:19) - My journey – from a below average to topper student (00:31:47) - Seabiscuit (00:35:10) - The Dakshana model and objectives (00:52:01) - Giving back to society (00:56:58) - Learnings from Buffett

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.

Mohnish Pabrai's Chat with students at the Rotman School of Management on March 03, 2023

(00:00:00) - Introduction (00:03:53) - Lunch with Warren (00:08:49) - Buffett's 2022 Shareholder Letter (00:17:02) - "Circle the Wagons" approach to investing (00:19:28) - The Nifty Fifty in 1970s (00:22:08) - Rakesh Jhunjhunwala (00:24:55) - How to "Circle the Wagons" (00:31:05) - Finding a great business (00:33:17) - IBM (00:38:54) - Li Lu (00:47:04) - Moutai (00:50:44) - Evaluating management (00:53:33) - Coca-Cola (00:56:02) - Reysas (01:01:50) - Circle of competence (01:03:41) - John Arrillaga (01:06:30) - Satyam Computers (01:10:27) - Investing in China

Mohnish Pabrai's Q&A session at the SumZero Top Stocks Investor Summit on February 9, 2023

(00:00:00) - Introduction (00:01:07) - Turkey earthquake (00:05:05) - Charlie's biggest mistake: Belridge Oil (00:08:44) - Coca-Cola İçecek (00:13:35) - Reysas (00:18:25) - Ferrari: One of my biggest mistakes (00:22:34) - Turkey – FX risk (00:24:07) - TAV Airports (00:27:27) - Brookfield (00:36:18) - Ali Baba vs. Tencent (00:38:03) - Indian Energy Exchange (00:41:51) - Adani Group (00:43:21) - Amazon (00:45:54) - Apple vs Ferrari runway (00:48:11) - Microsoft vs. Apple (00:50:54) - Macroeconomic risks

Mohnish Pabrai's Q&A with London School of Economics on January 18, 2023

(00:00:00) - Intro (00:01:09) - Durable Moats (00:04:34) - Coca-Cola (00:08:05) - Apple (00:08:59) - Burlington Northern Railway (00:11:04) - Patience is your most valuable asset (00:14:47) - The Quest for 100 baggers (00:16:15) - Charlie's greatest investing mistake: Belridge Oil (00:19:33) - Reysas (00:25:36) - Japan Company Handbook (00:30:15) - Circle of competence (00:32:35) - Margin of safety (00:32:57) - Be unreasonable (00:34:18) - Be an independent thinker (00:35:52) - Cloning ideas (00:40:07) - Thou shall never use Excel! (00:41:28) - Charlie's mental models

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.

Mohnish Pabrai's Q&A session with students at JNV Bangalore (Rural) on December 23, 2022

(00:00:00) - Introduction (00:04:57) - Dakshana Donors – Prem Watsa; R.K. Damani (00:07:27) - Harvard's model for donations (00:12:11) - Your deepest desire is your destiny (00:21:51) - Dakshana: Of the alums, for the alums, by the alums (00:22:54) - Fear of failure (00:32:11) - Inspiration behind Dakshana (00:33:19) - Large inheritances do more harm than good (00:37:03) - Truth is the foundation for trust (00:47:40) - Book by Judith Harris: No Two Alike

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.

Mohnish Pabrai's session with EO Gurgaon on January 10, 2023

(00:00:00) - Introduction (00:04:15) - I'm a better investor because I'm a businessman. I'm a better businessman because I'm an investor (00:05:00) - Capitalism is creative destruction (00:08:40) - Earnings reinvestment framework (00:10:58) - The importance of Spawning (00:13:07) - Control is over-rated (00:16:50) - From entrepreneur to investor (00:33:30) - Patel Motel Dhandho (00:40:42) - Book: Roy Thomson of Fleet Street; Trilogy (00:41:33) - Reysas (00:50:18) - Investment Shortcuts; cloning (00:52:35) - IIFL Wealth Management; Kotak (00:54:01) - The S&P 500 is a great choice (00:57:54) - Rakesh Jhunjhunwala (00:59:35) - Poor Charlie's Almanack (01:07:39) - Mohnish's Owners Manual by Jack Skeen (JackSkeen.com)

Mohnish Pabrai's Talk with UNC Kenan-Flagler School's Investment Management Club on Dec 5, 2022 (00:00:00) - Introduction (00:05:47) - Selecting an investing manager (00:09:03) - Rain Industries (00:12:01) - You need a rope to get out of deep wells (00:14:33) - Investing in Türkiye (00:18:33) - Active vs passive investing (00:24:18) - Reysas (00:26:49) - Let fundamentals instruct us, not stock price (00:29:46) - Pre-Investment checklist (00:31:26) - IBM (00:36:12) - Alternative investments (00:39:06) - Due diligence in emerging markets (00:42:16) - Approach to philanthropy (00:46:31) - Value vs. Growth investing

Mohnish Pabrai's Speaker Event with Helvetian Investment Club at St. Gallen University on November 29, 2022

(00:00:00) - Introduction (00:01:30) - Satyam Computer Services (00:08:01) - Asymmetry mental model (00:16:29) - Thou shall not have an investing team (00:18:46) - Asymmetry mental model Part 2 (00:20:34) - Equities vs. other asset classes (00:23:30) - Asymmetry mental model Part 3 (00:32:40) - Power vs. Force (00:35:50) - Present education system (00:39:20) - Rakesh Jhunjhunwala's journey (00:41:22) - Jack Nicholson: "You can't handle the truth" (00:42:07) - Walton Family & their Walmart ownership (00:42:38) - Amazon (00:43:24) - Crisil (00:47:36) - Career advice in investing (00:51:31) - Don't try to learn too much from your mistakes

Mohnish Pabrai's Q&A Session with YPO Gold Nairobi in Kenya on October 11, 2022

(00:00:00) - Introduction (00:03:15) - Buying Manhattan from the Native American Indians in 1626 (00:10:05) - My daughter's investment journey with compounding (00:12:51) - Active vs. Passive Investing (00:19:51) - Error rate in investing (00:26:12) - Reysas (00:29:41) - TAV Airports (00:31:43) - Circle of competence (00:35:45) - Macroeconomic factors (00:39:51) - When to sell a stock (00:44:11) - Intrinsic Value (00:46:25) - Global investment opportunities (00:54:06) - Too hard pile (00:58:24) - TAV business model (01:02:31) - Learning from mistakes (01:07:20) - The Dakshana story

Mohnish Pabrai's Q&A Session with students at the William & Mary College on November 8, 2022

(00:00:00) - Introduction

(00:01:39) - The Micron Technologies oligopoly

(00:10:46) - Entrepreneurs aren't risk takers

(00:15:48) - Model for running a non-profit/charity

(00:20:22) - Adversity is a blessing

(00:23:31) - Thou shalt not use Excel

(00:30:21) - Micron Technologies: Destination analysis

(00:36:42) - Micro Trumps Macro: Ignore macro

(00:38:15) - Buffett: The Learning Machine

Mohnish Pabrai's Presentation and Q&A at Boston College and Harvard Business School on October 27, 2022.

(00:00:00) - Introduction

(00:02:31) - The Uber Cannibals Investing Framework

(00:27:45) - Henry Singleton - The ultimate Uber Cannibal

(00:37:10) - The magic of buybacks

(00:44:03) - Investing in a high interest rate environment

(00:47:12) - Rules for philanthropy vs. capitalism

(01:02:30) - Figuring out intrinsic value

(01:10:23) - Creative destruction in capitalism

(01:18:24) - Mental models

(01:22:41) - Active vs. Passive Investment Management

(01:26:08) - Investing in global markets

(01:44:22) - Advice for students

Mohnish Pabrai's Q&A Session with Ironhold Capital on September 16, 2022

(00:00:00) - Introduction

(00:01:08) - Intrinsic Value

(00:13:18) - Screening for Investment Ideas

(00:22:47) - Identifying Moats

(00:27:09) - Phil Fisher's Scuttlebutt method

(00:31:54) - Lunch with Buffett

(00:36:06) - Book Recommendation

(00:37:44) - The Dakshana Story

Mohnish Pabrai's Q&A Session with Juan Pablo and Alejandro Salcedo at Mis Propias Finanzas on September 20, 2022

(00:00:00) - Introduction

(00:01:36) - Lunch with Buffett

(00:13:17) - Analyzing an Investment

(00:21:03) - On Inheritance

(00:25:51) - The Dakshana Story

(00:30:34) - Book Recommendation

(00:38:35) - My Retirement Plan

(00:43:45) - Investing as a Career

(00:44:57) - Global Investment Opportunities

(00:49:07) - Cryptocurrencies

Mohnish Pabrai's Q&A session with the Asian Institute of Technology, Bangkok on August 30, 2022

(00:00:00) - Introduction

(00:02:13) - Rakesh Jhunjhunwala

(00:06:48) - Uber Cannibals

(00:17:49) - Multibaggers

(00:24:07) - Key Traits of Value Investors

(00:29:42) - Great Businesses vs. Great Investments

(00:36:17) - Valuing a business

(00:48:06) - Handling Losses

(00:53:54) - When to Sell a Stock?

(01:00:36) - Investing in China

Mohnish Pabrai's Talk with the CFA Society, Mexico on August 17, 2022

(00:00:00) - Introduction

(00:02:56) - Different Styles of Investing

(00:21:14) - Active Fund Management Industry

(00:24:15) - Value vs Growth

(00:32:55) - Handling Macro-economic Factors

(00:37:50) - The Future of Value Investing

Mohnish Pabrai's conversation with Lauren Templeton on Zenvesting podcast on July 25, 2022

(00:00:00) - Introduction

(00:01:12) - Women Investors

(00:09:18) - Lunch with Buffett

(00:16:05) - Relationship with Charlie Munger

(00:19:45) - My Journey towards Investing

(00:30:01) - My Introduction to Warren Buffett

(00:33:49) - Handling the Macro-economic Factors

(00:35:50) - Investing in International Markets

(00:45:27) - The Dakshana Story

Mohnish Pabrai at the TiE Austin Speaker Series - Investment & Entrepreneurs on August 12, 2022. Leveraging Asymmetry: How to Build a Successful Business with No Funding or VCs

(00:00:00) - Introduction

(00:02:43) - Non-Venture backed Start-ups

(00:05:06) - Managing Resources for the Start-Up

(00:08:24) - Advantages of beginning as a Part-timer

(00:12:01) - Amar Bhide's Framework of Entrepreneurship

(00:15:34) - Identifying and Filling Offering Gaps

(00:29:22) - Cloning is the Most Powerful Mental Model

(00:39:16) - Investing in Hyperinflation Economies

(00:45:12) - My Investing Journey

(00:49:42) - The Power of Truth

(00:57:19) - The Dakshana Story

(01:02:48) - Lunch with Buffett

Mohnish Pabrai's Q&A Session on Value Investing with Narsee Monjee Institute of Management Studies, Mumbai on June 16, 2022.

(00:00:00) - Introduction

(00:02:00) - Approaches to Value Investing

(00:05:07) - The Multibaggers approach

(00:08:54) - McDonald's 60+ years of compounding

(00:15:50) - Chuck Akre's Three-Legged Stool

(00:16:49) - Global Multibaggers

(00:21:11) - Choose your focus

(00:36:29) - Is Value Investing dead now?

(00:49:18) - Venture Capital Investing vs. Public Equities

(00:54:01) - Passive Index Investing

(01:00:07) - Handling Drawdowns

Session with Sandeep Parekh 1st June 2022

(00:00:00) - Introduction

(00:01:37) - The Dakshana Story

(00:06:52) - High risk and high return in philanthropy

(00:09:00) - Cloning the Super 30 model

(00:12:24) - Effect of macro & micro on investing

(00:14:53) - The Dot Com Bubble of 1999-2000

(00:21:24) - Funeral businesses are amazing

(00:27:05) - Shameless Cloning

(00:32:50) - Mis-priced assets

(00:40:19) - Sold too soon! Wise too late!

(00:52:36) - The Power of compounding

(01:04:35) - Investing in India

(01:08:19) - Ben Graham Net Nets

Mohnish Pabrai speaks at the HBS Investment Conference on Sunday, April 3, 2022. It's an hour-long fireside chat moderated by an HBS professor. The Investment Conference is one of the biggest conferences arranged by HBS students each year. It is attended by 400+ students across MBA programs who have a background or interest in the investment management industry.

(00:00:00) - Introduction

(00:04:12) - Ben Graham; Warren Buffett's teacher

(00:10:10) - All intelligent investing is Value Investing

(00:13:51) - Holding above intrinsic value

(00:19:43) - Micro vs. Marco in Turkish economy

(00:25:29) - Macro events affecting US economy

(00:34:58) - Investment checklist

(00:39:46) - Investing in Seritage

(00:43:00) - Shameless Cloning

(00:47:55) - New Fund Managers

Doctors Investing Group Interviewer: Tom Dittrich February 16, 2022

(00:00:00) - Introduction

(00:01:31) - From Entrepreneur to Investor

(00:06:30) - Value Investing

(00:09:05) - Learning to find true value of a business

(00:12:32) - Diversified vs. Concentrated Portfolio

(00:14:54) - Shameless Cloning

(00:17:46) - Business with spawning DNA

(00:25:23) - Effect of macro events on investing

(00:39:51) - Investing in foreign markets

(00:44:41) - Auction driven markets

(00:50:45) - Free Lunch Portfolio

(00:52:11) - Dakshana Foundation

Value Investing, Great Compounders, and Lessons from Buffett and Munger.

The Wall Street Lab Podcast

Interviewer: Andreas von Hirschhausen

January 5, 2022

(00:00:00) - Introduction

(00:01:07) - Dhandho meaning

(00:02:22) - The story of Patels

(00:04:50) - Mohnish's Journey as an Investor

(00:09:55) - Difference between Great Compounder and Growth Stock

(00:13:09) - Studying Businesses

(00:22:25) - Learning from mistakes

(00:28:35) - Chinese Market and Investment

(00:32:02) - Venture Capital Business

(00:37:21) - Value Investing

(00:40:42) - Investor should be like watching paint dry

(00:45:40) - Deepest Desire is your Destiny

NUS MBA Finance Club, NUS Business School January 19, 2022

(00:00:00) - Introduction

(00:02:43) - Captive Finance Company

(00:13:38) - Funeral Business

(00:22:49) - Investment in IPSCO

(00:26:53) - High Uncertainty, Low risk; High returns

(00:27:32) - Silicon Valley Bank

(00:34:46) - Power of compounding

(00:36:01) - Value investing is not dead

(00:38:30) - Investing as treasure hunt

(00:42:58) - Lessons from Warren Buffett

(00:45:43) - Investment in Alibaba and China

(00:48:28) - Chuck Akre; 3-legged stool

University of Georgia

Host: Charlie Warren Oberman

November 18, 2021

(00:00:00) - Introduction

(00:02:06) - Buffett: when he has his first stock tip, call me collect

(00:03:47) - Relationship with Warren Buffett and Charlie Munger

(00:12:41) - Circle of competence

(00:15:16) - Sources for Investment Ideas

(00:17:08) - Handling Underperformance

(00:18:49) - Leverage in Businesses

(00:23:05) - Micro vs. Macro

(00:24:21) - Avoiding Confirmation Bias

(00:25:51) - Identifying Moats

(00:29:00) - Evaluating Management

(00:30:16) - Investing as a Profession

(00:32:15) - Entrepreneur's Advantage

(00:33:49) - Zero Fee Structure

(00:35:42) - Pre-investment checklist

(00:39:12) - Lessons from Failures

(00:44:14) - Calculating Intrinsic Value

(00:48:03) - Shameless Cloning

(00:49:42) - Long-term compounders

William & Mary College

October 26, 2021

(00:00:00) - Introduction

(00:02:16) - Learnings from Charlie Munger

(00:02:50) - Avoiding Self-pity

(00:07:12) - Investing 101

(00:08:31) - Buffett's investing punch card

(00:15:07) - Circle of competence

(00:16:06) - Recruiting

(00:18:35) - Learning from mistakes

(00:21:41) - Startup Tips

(00:23:55) - Leverage

(00:25:40) - Adventures with Tech Cominco

(00:36:01) - DCF Models

(00:39:45) - Investment 102

(00:42:18) - Stonetrust Insurance

(00:47:09) - Dakshana Foundation

(00:49:59) - Philanthropy, high risk and return

University of Oxford

Sponsored by the Oxford Alpha Fund

October 19, 2021

(00:00:00) - Introduction

(00:01:08) - Dhandho, Patels & Motels

(00:08:25) - Capitalism is Brutal (Peter Theil)

(00:10:42) - Business Monopolies

(00:17:51) - Reysaş in Turkey

(00:24:00) - Shorting

(00:27:51) - Managing one's own psychology

(00:32:40) - Inner and outer scorecards

(00:35:14) - Meeting Warren Buffett

(00:43:33) - Old too soon wise too late – Charlie Munger

(00:49:56) - Cloning

Distinguished Speaker Series Professor Arvind Navaratnam October 14, 2021

(00:00:00) - Introduction

(00:02:04) - Competition is For Losers, Peter Thiel

(00:08:25) - Rain Industries

(00:12:39) - Monopolistic business models, Amazon and Google

(00:17:14) - Redoing the Spaghetti code, AWS in business

(00:19:09) - A Whale only gets harpooned only when it surfaces, Warren Buffett

(00:20:00) - AWS, cloning by Microsoft and Google

(00:24:15) - Monopolistic characteristics of giant Chinese tech companies

(00:28:19) - Tencent (under)reporting style

(00:30:24) - Naspers business model, Koos Bekker

(00:40:58) - Better capital allocation by Amazon and Tencent

(00:43:37) - Tencent business model

(00:50:24) - The bazooka Model of Pony Ma

(00:57:33) - How I became a value investor

(01:02:22) - Chinese tech giants and political risk

(01:03:16) - Dakshana Foundation's Education Model

(01:09:01) - Evolution of my investing style

(01:12:58) - Mohnish's investing framework on start-ups

(01:17:31) - Ali Baba

(01:23:18) - Competence and edge

(01:24:54) - Change in Investment strategy due to Covid

(01:37:50) - Application of NLP (Natural Language Processing) in investing

(01:45:10) - Up and comers in the investment sector

(01:47:40) - Quality of Management

(01:50:29) - Book recommendations

Summer Summit 2021 Moderated by Luis Alberto and Iglesias Gómez

(00:00:00) - Introduction

(00:00:39) - Entrepreneur's advantage

(00:03:36) - Finding order in chaos

(00:07:09) - Investment in Turkiye

(00:07:40) - Investment in China

(00:10:14) - Growth vs Value

(00:12:15) - Microsoft

(00:16:29) - Nick Sleep

(00:18:21) - When two worlds collide

(00:19:41) - Reysas

(00:22:22) - Rain Industries

(00:23:38) - Market trends

(00:24:27) - Ron Insana: Trend Watching

(00:27:37) - Your deepest desire is your destiny

(00:32:47) - Holdings of Agnelli family

(00:34:56) - Auction driven markets

(00:37:52) - Discounts in equity market

(00:41:05) - Balancing personal and professional life

(00:45:38) - Friendship with Charlie Munger

(00:47:32) - The Dakshana Foundation

This event was sponsored by the LBS Investment Management Club and the LBS Indian Students Club

(00:00:00) - Introduction

(00:02:47) - Changes in our Economy post-COVID

(00:08:21) - Entrepreneur's Advantage

(00:15:11) - Advise to New Investors

(00:19:37) - Inner Scorecard

(00:24:09) - Evaluating Management

(00:30:42) - Investment in Graftech

(00:38:56) - Portfolio Construction

(00:43:46) - Mumbai Real Estate

(00:49:27) - Impact of Exchange Rate on Investments

(00:52:51) - Learnings from Nick Sleep

Knowledge Speakers Series May 12, 2021

(00:00:00) - Introduction

(00:04:03) - Value vs Growth Investing

(00:29:23) - Investments in India

(00:38:25) - Learnings from Warren Buffett and Charlie Munger

(00:43:19) - Dakshana Foundation

(00:48:18) - Impact of COVID on businesses

(00:52:03) - Indian hotels business

(00:56:28) - What's a great business?

(00:58:17) - How to select Best Value Proposition?

(01:07:58) - Unicorns in India

(01:12:57) - Mohnish's schedule

(01:17:31) - Death and Rebirth business

(01:23:03) - India's growth and market

Professor Anuroop Duggal's Value Investing Class Columbia Business School Columbia University

(00:00:00) - Introduction

(00:03:46) - Laws of investing

(00:06:24) - Following Warren Buffett

(00:07:39) - Finding long term compounders

(00:09:05) - Early-stage businesses

(00:13:54) - 10 bagger business ideas

(00:17:30) - Copart: From Junk to Gold

(00:28:04) - Uber Cannibals

(00:33:13) - Investing is a game of probability

(00:36:43) - Ollies' business model

(00:40:28) - Relationship with other investors

(00:47:38) - Marginal safety

(00:51:42) - My 401k plan

(00:54:35) - Businesses are fragile

(00:57:08) - Dakshana Foundation

Mohnish Pabrai's Q&A Session with Students at Indiana Univ. Kelley School of Business –April 1, 2021

(00:00:00) - Introduction

(00:04:31) - Investment checklist

(00:08:18) - Circle of competence

(00:11:08) - Shipping Industry

(00:21:56) - Portfolio Management

(00:23:35) - US Markets vs. Other markets

(00:25:38) - Short selling

(00:29:24) - Research process

(00:30:42) - Holding a stock

(00:33:10) - Cinches, Feet on the desk and awesome destinations

(00:41:33) - Pre-investment checklist

(00:43:19) - Kelly formula

(00:45:04) - Scenario analysis

(00:46:28) - Hurdle rate

(00:47:48) - Philanthropic initiative; Dakshana Foundation

(00:51:41) - When wealth is lost

(00:54:14) - Best trait of an investor; Patience

(00:56:12) - Lunch with Warren Buffett

(00:58:43) - Starting of Pabrai Funds

(01:01:49) - Investment Strategy

(01:02:35) - Learning from mistakes

(01:04:17) - Career Advice

Mohnish Pabrai's Q&A Session with MBA Students at Georgetown University.

(00:00:00) - Introduction

(00:01:38) - Starting of Pabrai Funds

(00:06:16) - Long term compounders

(00:07:17) - International Investment

(00:11:48) - Biggest reason Investments don't work is debt

(00:14:27) - DELTA Financial: Avoid Leveraged Businesses

(00:15:52) - Competitive Advantages

(00:17:32) - Dakshana Foundation

(00:20:51) - Value investing

(00:25:18) - Money manager

(00:30:32) - Rules for investors in Pabrai Funds

(00:37:09) - Stock picking

(00:40:27) - Seritage stock

(00:44:49) - Quality of a business

(00:48:24) - Ideal number of stocks

(00:49:21) - Understanding a business

(00:53:50) - Market trends

Stephen D. Cutler Center for Investments and Finance, Babson College Managing Director: Patrick Gregory

(00:00:00) - Introduction (00:02:03) - Value vs Growth Investing (00:05:45) - Microsoft (00:09:12) - Volatility in auction driven markets (00:14:36) - Portfolio management (00:18:32) - Change in Investment philosophy (00:22:45) - Walmart vs Nifty 50 (00:25:26) - Reysas (00:29:43) - Micro vs. Macro (00:32:05) - Investment in Turkey (00:35:19) - John Arrillaga's Tiny Circle of Competence (00:41:49) - Structural changes due to pandemic (00:46:47) - Three variables that drive long-term wealth (00:47:39) - My daughter's introduction to investing