Chai with Pabrai

Ramesh Damani (Chairman of Avenue Supermarts) and Mohnish Pabrai's Q&A session with Millennium Mams.' Millennium Mams' is a Kolkata-based non-profit organization dedicated to empowering women through financial literacy.

(00:00:00) - Introduction

(00:09:32) - Economic recovery post-Pandemic

(00:15:30) - My Heroes in Life

(00:23:28) - Learnings from Buffett and Munger

(00:27:48) - Li Lu's Journey

(00:35:48) - US-China Trade War

(00:41:40) - Will India benefit from the US-China Trade War?

(00:52:55) - Investment Opportunities post-COVID

(00:59:52) - Gold as an Investment Asset

(01:03:36) - Cryptocurrencies

(01:13:52) - Book Recommendations

(01:16:14) - Charity Lunch with Buffett

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

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

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

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

(00:00:00) - Introduction

(00:02:13) - Thou shall not skim off the top

(00:04:11) - Thou shall not have an investing team

(00:05:20) - Thou shall accept that thou shall be wrong at least 1/3 of the time

(00:07:06) - Thou shall look for hidden P/E of 1 stocks

(00:13:13) - Thou shall never use Excel

(00:21:21) - Thou shall always hope a rope to climb out of the deepest well

(00:27:43) - Thou shall be singularly focused like Arjuna

(00:31:32) - Thou shall never short

(00:32:50) - Thou shall not be leveraged. Neither a lender nor a borrower be

(00:36:28) - Thou shall be shameless cloner

(00:37:12) - Where to look for investment ideas

(00:40:51) - Temperament during financial crises

(00:43:53) - Always have a rope on hand

(00:49:07) - Investment in Google

(00:52:12) - Judging Management Teams & Satyam Scam

(00:55:28) - Sergio Marchionne

(01:00:36) - Currency risk in international markets

(01:07:52) - Investing in Distressed companies

(01:09:33) - Competitive Moats that turn out to be an illusion

(01:16:02) - Kelly formula

(01:17:17) - Circle of Competence

(01:19:30) - Shameless Cloning

(01:20:04) - Zero Fee Structure

(01:24:03) - Investing in Protected Moats

(01:26:41) - When to sell an investment

(01:30:39) - Personal trails that contribute to a manager's success

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

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

Business Analysis and Valuation Course Professor Andrew Sandoe, Harvard University April 7, 2020

(00:00:00) - Introduction

(00:04:40) - Purchase of Stonetrust Insurance

(00:8:30) - Insurance Business Model

(00:11:05) - Sale of Stonetrust Insurance

(00:22:47) - Valuing an Insurance company

(00:25:12) - Being a harsh grader

(00:30:40) - Circle of Competence

(00:42:03) - Start early with investing

(00:55:48) - Improving your Circle of Competence

(01:02:58) - Learnings from investment mistakes

(01:09:54) - Value Investment Categories

(01:29:16) - Probability estimation for outcomes

(01:34:28) - Philip Fisher's Scuttlebutt method

(01:37:10) - Munger's advice on sharing Investment ideas

(01:42:20) - Human response to Economy

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

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