TIP 121 : Super-Investor Mohnish Pabrai - Part 2 (Business Podcast)
We Study Billionaires - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 15 January 2017
⏱️ 42 minutes
🧾️ Download transcript
Summary
IN THIS EPISODE, YOU’LL LEARN:
- Why Mohnish Pabrai recently invested in Southwest Airlines.
- What Mohnish Pabrai’s biggest investment mistake is, and how he later made more than $100 million because of it.
- If Warren Buffett and Charlie Munger consider any macro decisions in their investment approach.
- Why the airline industry is a terrible sector, but might still be a great investment at the moment.
BOOKS AND RESOURCES
- Mohnish’s new website: Chai with Pabrai.
- Mohnish’s Book, The Dhandho Investor – Read Reviews for this book.
- Mohnish’s Youtube Channel.
- Kevin Freiberg’s book, Nuts – Read reviews of this book.
- Charlie Munger’s book, Poor Charlie’s Almanack – Read reviews of this book.
- Sam Walton’s book, Made in America – Read reviews of this book.
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Transcript
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| 0:00.0 | We study Billionaires and this is episode 121 of the Master's Podcast. |
| 0:06.4 | Broadcasting from Bel Air, Maryland. This is the Investors Podcast. |
| 0:14.3 | They'll read the books and summarize the lessons. Don't test the waters. Tell you what it's |
| 0:19.0 | called. They'll give you actionable investing strategies. Your host Preston Pish and St. Broderson. |
| 0:30.0 | How's everybody doing out there? This is Preston Pish and I'm your host for the Investors Podcast. |
| 0:34.4 | As usual, I'm accompanied by my co-host St. Broderson out in Seoul, South Korea. |
| 0:40.0 | Today's episode is the second part interview with Moniz Pop-Rai, one of the very best and most |
| 0:45.2 | respected investors in the valued investing community. If you haven't listened to the first part |
| 0:50.2 | interview, I would strongly recommend that you go back and listen to episode 120 first. |
| 0:56.0 | But for this episode, we can't wait to continue our interview with Monizh and I will kick this |
| 1:01.6 | out with the first question. So, Monizh, despite your massive success, you're famous for being |
| 1:07.8 | very humble and simply calling yourself an investment cloner, meaning you're looking at the investments |
| 1:13.4 | from other five managers and you make the best ideas you own if they're within your server |
| 1:18.3 | competence. How do we learn how to clone more Warren Buffett and Charlie Munger are doing? |
| 1:23.8 | Well, I think first of all, both Warren and Charlie have been very generous and they have put |
| 1:30.1 | a lot of stuff in the public domain. I mean, almost everything that they have is in the public domain. |
| 1:35.2 | The only thing you can clean maybe from some of these meetings is the calibration of what is more |
| 1:40.1 | important and less important, that sort of thing. But for the most part, almost every insight that |
| 1:44.6 | they have is in the public domain. There's very little that is going to come out that is going to be, |
| 1:50.1 | because they're not people who hold back. They're very generous on that front. So, I think it boils |
| 1:56.0 | down to going back to the Swami, which is take a simple idea and take it seriously. So, I think that |
| 2:01.3 | the important thing for people who want to follow in the footsteps of Warren and Charlie is a |
... |
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