Chai with Pabrai

Distinguished Speaker Series Applied Fundamental Analysis & Worldly Value investing Professor Arvind Navaratnam

(00:00:00) - Introduction

(00:01:13) - Bull! A history of boom and bust, 1982-2004

(00:01:32) - The Dow (1896-2020)

(00:10:39) - NASDAQ (1971-2020)

(00:13:23) - Nikkei (1970-2020)

(00:14:30) - Kospi (1980-2020)

(00:15:35) - "Old too soon, wise too late"- Charlie Munger

(00:17:45) - NVR business

(00:19:12) - Nick Sleep

(00:22:50) - Extreme undervaluation to extreme overvaluation

(00:23:42) - Great compounder or great carnival

(00:25:54) - Investing failures

(00:26:44) - Valueing a company

(00:32:00) - Retails

(00:40:42) - Where to start?

(00:46:41) - Managing portfolio during pandemic

(00:50:09) - Value investing is not dead

(00:51:07) - Optionality in a business

(00:55:08) - Long runway

(00:57:30) - Identifying moats

(01:00:48) - Opportunity cost

(01:05:00) - Shameless Cloning

(01:09:02) - Pre-investment checklist

(01:11:48) - Investment in IPSCO and Turkey

(01:15:57) - Kelly formula

(01:19:41) - Quality of management team

(01:22:29) - Advise for students

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)

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

Applied Fundamental Analysis & Worldly Value Investing

Professor Arvind Navaratnam

(00:00:00) - Introduction

(00:02:41) - Compounding is the 8th wonder of world

(00:14:12) - Wilson's Coin Operated Company

(00:22:02) - Warren's obsession about compounding

(00:24:38) - Rule of 72

(00:32:18) - Mr. Money Mustache

(00:34:28) - Rate of compounding

(00:39:09) - Compound 26%

(00:46:22) - Mindless Cloning

(00:54:11) - Comparative advantage of a Hedge fund

(01:00:55) - Portfolio Management

(01:06:50) - Kelly formula

(01:08:59) - Thou shall not forecast recession

(01:16:23) - Best source of ideas

(01:20:11) - Market trends and Passive investing

(01:26:53) - Doing the best job as a manager

(01:33:51) - Insurance business

(01:34:51) - Entrepreneur's Advantage

(01:37:44) - Investing in Commodity Businesses

(01:42:33) - Technology and Investment

(01:43:45) - Insights on Charlie Munger

(01:48:47) - Difference in profit and non-profit world; Dakshana Foundation

(01:52:47) - Advantage of being Part-time Investor

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

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

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

Mohnish Pabrai meets with members of the UCLA Student Investment Fund at the UCLA Anderson School of Management.

(00:00:00) - Introduction

(00:01:41) - Starting of Pabrai Funds

(00:12:43) - Change in Investment Philosophy over time

(00:31:18) - Sell-side research

(00:36:35) - Inner and Outer Map

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