On today’s episode, Clay reviews Mohnish Pabrai’s book, The Dhandho Investor. Mohnish is one of our very favorite investors to study here at TIP as we’ve interviewed him for the podcast multiple times in the past. Since its inception in 2000, Mohnish’s flagship fund has achieved a return of 781% to his investors net of fees versus 378% for the S&P 500. 

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

05:19 -The story of the Patels, who went from owning nothing in the US, to owning over 50% of the motel industry.

11:33 - The 9 Dhandho investment principles.

14:24 - How Dhandho investors are able to earn outsized returns with minimal risk.

25:09 - How to identify bargains in the market.

32:17 - The relationship between investing and gambling.

39:17 - Clay’s analysis on Mohnish’s largest US equity holding today.

49:46 - Mohnish’s investing checklist he uses prior to purchasing a company.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Tune into the recent We Study Billionaires' episode covering The Little Book of Valuation by Aswath Damodaran or watch the video.
• Listen to the episode on Warren Buffett's Money Mind or watch the video.
• Related Episode: Listen to Investing in Stocks w/ Mohnish Pabrai - TIP442, or watch the video.
• Related Episode: Listen to Berkshire's Purchase of TSM & Meta "Doomsday" Analysis - TIP508, or watch the video.
• Mohnish Pabrai’s book: The Dhandho Investor.
• Follow Clay on Twitter.

NEW TO THE SHOW?

• Check out our We Study Billionaires Starter Packs.
• Browse through all our episodes (complete with transcripts) here.
• Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
• Enjoy exclusive perks from our favorite Apps and Services.
• Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.

P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!

SPONSORS

• Get position and investment info for nearly 6,000 Asset Management Companies with Moomoo, Australia’s first A.I. powered trading platform. Sign up and fund your moomoo account before October 31 and get $10 for every $100 you deposit. All investment carries risk. AFSL 224 663. T&Cs apply.
• Get personalized, expert advice that helps you see things clearly with ATB.
• Help companies protect customer privacy in the face of endlessly growing data breaches by investing in Atakama today.
• Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business.
• Take stock of your finances and investing strategy with Betterment.
• Guess less and sell more with the Number 1 email marketing and automation brand, Intuit Mailchimp.
• Let an expert do your taxes from start to finish so you can relax with TurboTax.
• If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.
• Support our free podcast by supporting our sponsors.

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.