TIP442: Investing in Stocks w/ Mohnish Pabrai

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 24 April 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU'LL LEARN:

01:18 - What Warren Buffett’s letter to Mohnish Pabrai said.
04:53 - What is Mohnish Pabrai’s driver for being an asset manager?
07:47 - What is Mohnish Pabrai’s role with Dakshana Foundation.
13:47 - Is it an advantage to spend money on research tools.
14:44 - Mohnish Pabrai’s natural biases.
24:16 - What to look for in an asset manager.
38:47 - How and why invest in a country with secular inflation and the investment case for Reysas Logistics.
48:45 - Thoughts on Alibaba and why there is no concern with the VIE structure.
50:33 - Thoughts on Tencent and why it might be a better business than Alibaba.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES:

Learn more about Mohnish Pabrai’s Dakshana Foundation.
Mohnish Pabrai’s website.
Our interviews with Mohnish Pabrai about value investing and philanthropy.
Our interviews with Mohnish Pabrai about value investing.
Our interviews with Mohnish Pabrai about value investing in 2021.
Our interview with William Green about Mohnish Pabrai and much more.
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Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TIP.
0:02.4	Since inception in 2000, today's guest Manizpabri has returned 781% to his investors Netafis
0:10.7	in his flagship fund. This is compared to only 378% for the S&P 500. In today's conversation,
0:18.8	we cover Eddie Baba, Tencent, his investment in racist logistics, a personal letter from Warren
0:23.9	Buffett, and much more. You do not want to miss out on this one, so sit back and enjoy my conversation
0:29.6	with Lich Investor Manizpabri.
0:35.8	You are listening to the Investors Podcast, where we study the financial markets and read the books
0:41.5	that influence self-made billionaires the most. We keep you informed and prepared for the unexpected.
0:55.4	Welcome to the Investors Podcast. I'm your host, Stik Brodus, and I'm thrilled
0:59.4	to have invited no other than Manizpabri to join us today. Manizpabri, thank you so much for
1:04.6	making time. Stik, it's always a pleasure and a year goes by so fast, and it's wonderful to
1:11.8	be back with you, and it'll be even more fun to be back in Omaha. It will. Let's jump into the very
1:18.8	first question. Manizp, you received a letter from no other than Warren Buffett, the other day,
1:24.4	and you posted it together with the comment, I must already be in heaven. I cannot help but ask
1:31.5	Manizpabri did that, let us say. The letter, well, first of all, I was floored when I got the letter,
1:38.8	because Warren has been a big fan of Daxana for a very long time. I mean, I think the first time
1:45.3	I met him in 2008 for the lunch with Guy Spear, I had sent him the very first Daxana annual
1:51.2	report before the lunch, and he had read every word, and he has a photographic memory. So he's
1:58.0	telling me like, hey, on page five, there's an error in your report. And I'm trying to remember,
2:03.3	like, what is on page five? What's anyway, I wasn't able to prove to him that there was no error.
2:08.4	But since then, you know, I've been sending in the reports, and sometimes I'll get a note saying,
2:13.4	send me 20 copies, I want to send it to my kids and the board and grandkids, whatever.
	...

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