Phrase by 'Mohnish Pabrai'
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Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.
Author: Mohnish Pabrai - Indian BusinessmanYou , People , Think , Reality
Entrepreneurs are great at dealing with uncertainty and also very good at minimizing risk. That's the classic great entrepreneur.
Author: Mohnish Pabrai - Indian BusinessmanGood , Great , Classic , Uncertainty
Mistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.
Author: Mohnish Pabrai - Indian BusinessmanPeople , Best , Success , Teachers
It is the performance of the business that matters. It is hard enough to figure out the future of the business. Do not try to figure out the future of the country or the world; focus on the business.
Author: Mohnish Pabrai - Indian BusinessmanFocus , World , Business , Future
You don't make money when you buy stocks. And you don't make money when you sell stocks. You make money by waiting.
Author: Mohnish Pabrai - Indian BusinessmanYou , Waiting , Money , Buy
The good thing about getting wealthy is we don't need to understand a lot of things!
Author: Mohnish Pabrai - Indian BusinessmanNeed , Good , Understand , Things
What is John Arriaga's circle of competence? Is it real estate? No! Is it U.S. real estate? No! Is it California real estate? No! Northern California real estate? No! Only real estate around Stanford. His circle of competence is this small.
Author: Mohnish Pabrai - Indian BusinessmanSmall , Real , Real Estate , Circle
One of the reasons why we can make a lot of money in equity markets is because they're auction-driven, and auction-driven markets are very different from almost any other kind of market.
Author: Mohnish Pabrai - Indian BusinessmanWhy , Money , Different , Equity
I have a hard time getting past the day without the nap, so the nap is a must.
Author: Mohnish Pabrai - Indian BusinessmanTime , Day , Past , Hard
The good news in investing is there are no HR problems. If there are no humans, there are no problems!
Author: Mohnish Pabrai - Indian BusinessmanGood , Problems , News , Good News