Phrase by 'Mohnish Pabrai'
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Talking to people is beneficial if you can identify the right people to share ideas and discuss decisions because everyone has blind spots, and others can sometimes catch yours. I think an investment team is a bad idea, but it is a good idea to talk to trustworthy individuals who do not have biases or interests.
Author: Mohnish Pabrai - Indian BusinessmanYou , People , Good , Team
We Americans love original ideas. But truly, there are already plenty of good ones out there, ours for the taking. If I were too proud to copy the ideas of others, I likely wouldn't have even a fraction of my current success.
Author: Mohnish Pabrai - Indian BusinessmanLove , Proud , Good , Success
The essence of a good investment manager is one who studies a given business and extrapolates the future cash flows that the business is likely to generate over the next several years. Based on the cash flow and asset assessment, they can then arrive at their expected rate of return if they bought a fraction of that business at a given price.
Author: Mohnish Pabrai - Indian BusinessmanGood , Business , Future , Price
I think a lot of people are getting more serious about how to do the most good, but there is no road map. I'm hoping I can offer an example.
Author: Mohnish Pabrai - Indian BusinessmanPeople , Think , Good , Road
The single biggest advantage a value investor has is not IQ. It's patience and waiting. Waiting for the right pitch, and waiting for many years for the right pitch.
Author: Mohnish Pabrai - Indian BusinessmanWaiting , Value , Single , Patience
One of the first things I tell people is, if you want to learn about investing, you want to open an account and make real investments because that's when it becomes real.
Author: Mohnish Pabrai - Indian BusinessmanYou , People , Want , Real
I own a company called Rain Industries.
Author: Mohnish Pabrai - Indian BusinessmanOwn , Company , Rain , Industries
There is no such thing as a value trap. There are investing mistakes.
Author: Mohnish Pabrai - Indian BusinessmanValue , Mistakes , Trap , Investing
We have to do what I would call anomalies: we have to look for strange things that show up once in a while. They don't show up all the time. We have to be scanning the horizon, and doing that, once in a while something will show up that makes a lot of sense, and then you act on it.
Author: Mohnish Pabrai - Indian BusinessmanYou , Look , Time , Strange
You know, my degrees are in computer engineering. I spent a lot of time in the tech industry. And I like to say that I don't invest in tech because I spent time in it. And I saw firsthand that the durability of technology moats is many times an oxymoron.
Author: Mohnish Pabrai - Indian BusinessmanYou , Time , Know , Technology