I wrote about reading the book Checklist Manifesto, a few days back. The author Dr. Atul Gawande talks about his interview with Mohnish Pabrai, a renowned investor. Mohnish Pabrai says that so many investing ideas pops up every day, which pumps up the adrenaline - but, as you put those ideas through a well prepared checklist, you would sense most ideas are baseless and may not be pursued. I have heard about Mohnish Pabrai, but have not attempted to dig deeper. Yesterday I saw one of the google talks where Mohnish Pabrai and Guy Spier (who has written the book "The education of a value investor") speak about their experiences.
On watching the video, I became a fan of Mohnish Pabrai! What a clarity of thought, and what narrative style he possesses! He talks about his investment in Satyam in 1994 / 95 time frames and how in a span of 5 years, he has made his $10000 to 1 million+ and got back the same in USD, sitting in USA. That is a 100 bagger for him. He says when he looked at the financials in 1994, he sensed Satyam was massively undervalued. The real estate it owned in Hyderabad might have been above the market cap. On another opportunity, he says, irrespective of high valuation of PeopleSoft when he decided to make money out of that, and having not invested, created a back door entry in the form of selling PeopleSoft consulting / services and made a high margin business out of it, with effectively a negative capital!
He shares his experiences with an industrial psychologist in 1999 / 2000 time frame who provided him with his "owner's manual" and how it helped him in becoming better at his focus areas. He recommends everyone to have an "owner's manual", by consulting with a trained psychologist! The personal experiences are candid and succinct. He also shared two of his failures where he came out of a stock in 3x or 4x multiples which eventually became more than 20x or 50x
Mohnish and Guy Spier successfully bid for Lunch with Warren Buffet in 2007 and in this video, they talk about the surprising fact from their perspective in that lunch.
This is a 2015 Google talks video. After more than 1.5 years, it has hit only 28k views! Strong recommendation to watch.
On watching the video, I became a fan of Mohnish Pabrai! What a clarity of thought, and what narrative style he possesses! He talks about his investment in Satyam in 1994 / 95 time frames and how in a span of 5 years, he has made his $10000 to 1 million+ and got back the same in USD, sitting in USA. That is a 100 bagger for him. He says when he looked at the financials in 1994, he sensed Satyam was massively undervalued. The real estate it owned in Hyderabad might have been above the market cap. On another opportunity, he says, irrespective of high valuation of PeopleSoft when he decided to make money out of that, and having not invested, created a back door entry in the form of selling PeopleSoft consulting / services and made a high margin business out of it, with effectively a negative capital!
He shares his experiences with an industrial psychologist in 1999 / 2000 time frame who provided him with his "owner's manual" and how it helped him in becoming better at his focus areas. He recommends everyone to have an "owner's manual", by consulting with a trained psychologist! The personal experiences are candid and succinct. He also shared two of his failures where he came out of a stock in 3x or 4x multiples which eventually became more than 20x or 50x
Mohnish and Guy Spier successfully bid for Lunch with Warren Buffet in 2007 and in this video, they talk about the surprising fact from their perspective in that lunch.
This is a 2015 Google talks video. After more than 1.5 years, it has hit only 28k views! Strong recommendation to watch.
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