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Hosted by Mohnish Pabrai
Hosted by Mohnish Pabrai
Hosted by Mohnish Pabrai
31 episodes with Mohnish Pabrai
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10 episodes with Mohnish Pabrai
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43 episodes with Mohnish Pabrai
6 episodes with Mohnish Pabrai
2 episodes with Mohnish Pabrai
2 episodes with Mohnish Pabrai
2 episodes with Mohnish Pabrai
Mohnish Pabrai's Session with Ashoka Investment Club on April 22, 2025. (00:00:00) - Introduction (00:00:47) - Charlie Munger's mental models; Poor Charlie's Almanack (00:07:38) - Cloning is the best mental model (00:08:45) - Sam Walton & Family; Walmart (00:10:36) - Microsoft (00:13:31) - Bridge (00:14:51) - Pabrai Funds: Cloned model from the Buffett Partnerships (00:17:41) - Selecting a stock (00:19:12) - Macro-economic factors; D-Mart & Shrimp farming in India (00:23:32) - Circle of competence; John Arrillaga (00:24:38) - Commodity producers; Saudi Aramco (00:27:26) - Look for anomalies, Investing in Turkiye & Reysas (00:33:54) - Learning from mistakes; Satyam Computers (00:39:35) - Nifty-50 in the 1970s; Walmart The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Talk with Shaan Puri at the My First Million podcast on March 27, 2025. (00:00:00) - Introduction (00:00:28) - Why the small investor has an advantage (00:02:51) - Investing $10K to make $1 Million (00:08:16) - Frontline (00:17:13) - Berkshire's 12 great decisions in 58 years (00:18:34) - Buffett's selection process: Moody's Manual (00:23:38) - Value Investor's Club (00:27:33) - The Japan Company Handbook (00:28:46) - Berkshire's investment in Japan (00:36:13) - Thou shall not use Excel (00:40:26) - Leverage: Rick Guerin (00:49:00) - Do not cut the flowers to water the weeds (00:51:21) - Costco (00:56:38) - My interactions with Charlie Munger & Warren Buffett (00:58:23) - Risk vs. Uncertainty (01:00:16) - Coca-Cola Icecek (01:01:42) - Warren's “Too Hard Pile” (01:03:01) - Circle of Competence: John Arrillaga (01:07:03) - Sam Walton: Walmart and Sol Price (01:12:18) - A power nap is good for productivity (01:15:39) - My owner's manual (01:21:52) - The Dakshana Foundation: A mathematical game (01:23:53) - Super 30: Model cloned by Dakshana (01:28:53) - Large inheritances cause more harm than good (01:31:35) - Mohnish's Blackjack System (01:37:46) - Michael Burry (01:41:21) - Rakesh Jhunjhunwala: Titan Industries (01:44:26) - Starting early to lengthen your runway (01:47:02) - Macroeconomic factors (01:47:37) - AI in investing The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Episode 705: Shaan Puri ( https://x.com/ShaanVP ) sits down with Mohnish Pabrai ( https://x.com/MohnishPabrai ) about how to turn $10K into $1M. Show Notes: (0:00) Simple = Genius (28:00) Never over-leverage (30:30) Risk vs uncertainty (33:00) Too hard pile (35:30) Be 1 inch wide, 1 mile deep (39:00) Learn from losers (43:30) A case for napping (48:00) Having an owner's manual (53:00) Dying with zero (1:10:00) India's Greatest Investor — Links: • Want to invest like a Billionaire? Get Mohnish's investment playbook: https://clickhubspot.com/mnp • Value Investors Club - https://www.valueinvestorsclub.com/ • Japan Company Handbook - https://tinyurl.com/489czpkp • Dakshana - https://www.dakshana.org/ • BJ21 - https://bj21.com/ — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
On today's show, Stig Brodersen talks with legend value investor Mohnish Pabrai. Since its inception in 1999, one dollar invested in the flagship fund would have turned into $13.63 vs. $6.19 for the S&P 500. In the special interview, you can join Mohnish and Stig's metaphorical restaurant and together taste new wonderful dishes in investing and life. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 01:36 - How stock investors can truly think like the owners of the business 10:09 - Which advice would Mohnish give to himself at ages 40 and 50 20:48 - Why you should learn from your mistakes, but not too much 33:07 - Why Mohnish looks at philanthropy as part two of the ultimate game 35:41 - Why you need to work with the fewest possible variables in philanthropy 51:30 - How to look at an “execution moat” 1:00:59 - Why Stig thinks that Mohnish is over diversified Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Mohnish Pabrai's website. Learn more about Mohnish Pabrai's Dakshana Foundation. Our interviews with Mohnish Pabrai about The Inner Scorecard. Our interviews with Mohnish Pabrai about Masterclass Investing. Our interviews with Mohnish Pabrai about investing in stocks. Our interviews with Mohnish Pabrai about value investing and philanthropy. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
In this episode, Clay dives into Buffett and Munger Unscripted by Alex Morris. This book is a treasure trove of timeless investing wisdom from decades of Berkshire Hathaway annual meetings. The episode highlights Warren and Charlie's most powerful lessons on capital allocation, business quality, temperament, and how to achieve long-term investing success. Whether you're a lifelong Buffett fan or just stepping into the world of value investing, this episode is packed with insights you won't want to miss. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 01:48 - Why Buffett and Munger believe there's no such thing as non-value investment. 07:45 - Why Buffett avoids complex financial models and sticks to common sense. 08:05 - The traits that define a truly great business—and why those are so rare. 14:57 - How capital allocation drives long-term shareholder value and Berkshire's success. 24:29 - How Buffett thinks about share buybacks and dividends. 26:27 - The importance of understanding and trusting management and company culture. 38:53 - Why most of Berkshire's success came from just a handful of decisions. 49:48 - How Buffett and Munger handle market volatility and avoid emotional decisions. 56:26 - The role of temperament in investing and why intelligence alone isn't enough. 58:15 - Why short selling rarely works and why index funds are still a powerful tool. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Alex Morris' book: Buffett & Munger Unscripted. Alex's research service: The Science of Hitting. Book mentioned: The Essays of Warren Buffett. Mentioned Episode: TIP697: The Secret to Buffett's Business Success w/ Lawrence Cunningham. Mentioned Episode: TIP550: Masterclass w/ Mohnish Pabrai. Mentioned Episode: TIP693: The Power Law w/ Clay Finck. Mentioned Episode: TIP626: Intelligent & Rational Long-Term Investing w/ Francois Rochon. Mentioned Episode: TIP620: The Intelligent Investor by Benjamin Graham. Follow Alex on X and LinkedIn. Follow Clay on LinkedIn & X. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Mohnish Pabrai's Interview at The Money Mindset with Sonia Shenoy on February 15, 2025. (00:00:00) - Introduction (00:01:20) - I am a single-player game player (00:03:01) - My friendship with Buffett and Munger (00:04:52) - Lunch with Warren Buffett (00:10:39) - Rick Guerrin (00:13:29) - Lessons learnt from Warren; The Inner scorecard (00:18:12) - Marcus Aurelius; The stoic philosophy (00:22:06) - Wealth is lost, nothing is lost; Health is lost, something is lost; Character is lost, everything is lost (00:26:05) - Index Funds (00:29:23) - Nifty-50; Walmart (00:32:53) - Patience is the best skill in investing; Infosys & Microsoft (00:36:04) - Separate a signal from the noise (00:37:52) - Selecting a stock; Warren's too-hard pile (00:41:14) - Investing in Turkiye; Reysas (00:46:39) - Look for illusionary smoke in the market (00:50:46) - Follow your passion in life (00:52:43) - Give meaning to life (00:55:34) - Money doesn't bring happiness (00:59:28) - Key lessons in life (01:05:54) - Good parenting is a key responsibility The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
On today's episode, Kyle Grieve dives deep into Mohnish Pabrai's The Dhandho Investor, unpacking its nine core principles through vivid case studies and personal reflections to help investors embrace simplicity, asymmetric bets, and the power of cloning proven ideas. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 03:34 - Why buying an existing business can be a smarter path than starting one from scratch. 11:32 - Profiting from businesses with short-term earnings visibility—and why it matters. 13:07 - The enduring strength and clarity of simple business models. 17:39 - How distressed businesses in troubled industries can become goldmines. 31:46 - Why hidden moats often offer the biggest edge—and how to spot them. 38:08 - The case for concentration: how fewer bets can lead to outsized returns. 50:28 - What modeling Costco reveals about risk, value, and margin of safety. 55:13 - The counterintuitive appeal of low-risk, high-uncertainty investments. 59:13 - How to use the cloning principle to shortcut your search for winners. 01:02:09 - Why your sell strategy should evolve with the quality of the business you own. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Read The Dhando Investor here. Read The Intelligent Investor by Benjamin Graham here. Read Richer, Wiser, Happier by William Green here. Read The Little Book That Beats the Market by Joel Greenblatt here. Follow Kyle on X and LinkedIn. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining Hardblock AnchorWatch CFI Education Found Fundrise Indeed The Bitcoin Way Vanta Shopify Onramp TurboTax HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Mohnish Pabrai's Q&A session with Dakshana Scholars at JNV Lucknow on July 14, 2024. (00:00:00) – Introduction (00:00:32) - Adam Smith and David Ricardo (00:04:03) - Success story of India's shrimp industry (00:09:24) - MSP and farm laws; India vs USA (00:14:37) - Japan's rapid post-war development (00:20:01) - Givers, Takers, Matchers & Dakshana (00:26:13) - Rule of 72 (00:31:53) - Robert Caro: Relentless research, unrivalled narrative (00:33:35) - Dakshana's Mission: Empowering Underprivileged Students (00:37:31) - Secret to success: Focus (00:41:42) - Upanishads on true desire The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be financial, legal, accounting, tax, or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation, or needs, and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Q&A session with Dakshana Scholars at Dakshana Valley, Pune on December 26, 2024. (00:00:00) – Introduction (00:00:33) - Starting Without All Answers; Super 30 Model (00:05:08) - Dakshana's breakthrough with NVS (00:09:19) - Helping Millions Through Innovation (00:13:38) - Infinite Vision: Arvind Eye Care (00:20:53) - Trust builds unbeatable business models; Costco & DMart (00:26:43) - Your deepest desire is destiny (00:29:59) - Cloning and trustworthiness are the best mental models (00:35:45) - Power of compounding (00:41:39) - Think small, scale later effectively (00:44:03) - Great entrepreneurs start with nothing (00:44:50) - Honesty is the most lucrative policy The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be financial, legal, accounting, tax, or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation, or needs, and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Interview at the Capital Compounders Show on February 25, 2025. (00:00:00) - Introduction (00:00:53) - Move to Austin, Texas (00:09:52) - Age is just a number (00:11:27) - The Dakshana Foundation: A math game (00:15:57) - My 4 games – Bridge, Dakshana, Compounding & Golf (00:17:11) - Bridge with Warren & Charlie (00:21:46) - Bridge teaches probabilistic thinking (00:23:48) - Mosaic: Perspectives of Investing (00:24:44) - Cloning is the best mental model: Sam Walton & Bill Gates (00:31:29) - Sam Walton & Walmart (00:33:23) - Compounding (00:35:16) - The crash of Nifty-Fifty in 1973-74; Walmart (00:37:02) - Fiat Chrysler (00:38:09) - The Waltons' ownership in Walmart (00:42:18) - Frontline & Reysas (00:46:11) - Portfolio concentration; Steve Ballmer at Microsoft (00:49:39) - Uber Cannibals The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Guest Lecture at Microsoft on November 15, 2024. (00:00:00) - Introduction (00:01:49) - Microsoft; Bill Gates (00:03:19) - The future of AI (00:04:27) - Value vs. Growth investing (00:08:58) - IPSCO (00:13:13) - Reysas (00:15:47) - Starting with value investing (00:19:37) - My journey in investing; Introduction to Warren Buffett (00:22:45) - Cloning ideas: Walmart & Microsoft (00:24:35) - Microsoft: Vijay Vashi (00:31:51) - Find out your passion: Poor Charlie's Almanac (00:35:42) - The Dakshana Foundation (00:40:12) - Bill Gates' introduction to Warren Buffett (00:44:15) - Reliability and Trust (00:47:33) - Somasegar at Microsoft The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Kannst du durch simples Kopieren erfolgreicher Investoren an der Börse reich werden? In diesem Podcast analysiere ich die Strategie von Mohnish Pabrai und zeige, wie du von den besten Investoren der Welt lernen kannst. Vereinbare jetzt dein kostenfreies Strategiegespräch: https://jensrabe.de/Q1Termin25 Aktien kann Jeder - jetzt testen: https://jensrabe.de/YTAKJ Optionen kann Jeder - jetzt testen: https://jensrabe.de/YTOKJ ALLE Bücher von Jens Rabe: https://jensrabe.de/buecherYT Nur für kurze Zeit. Solange der Vorrat reicht. Schaut auf dem Instagram-Account von Jens vorbei: @jensrabe_official https://www.instagram.com/jensrabe_official Börsen-News https://jensrabe.de/Q1NewsYT25
I can't believe it took me this long to get Matt Warder on the podcast. But here we are. Matt is the smartest guy in the coal space, and it's not even close. We chat HCC's latest investor presentation, why coal stocks are cheap, the 2026-2027 setup, and Matt's thoughts on precious metals. We finish the conversation with lessons from Matt's dinner with Mohnish Pabrai. MitimcoThis episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more!TegusTegus has the world's largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best.I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you're interested, head on over to tegus.co/valuehive for a free trial to see for yourself.TIKRTIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.
Mohnish Pabrai's Interview with John Mihaljevic at MOI Global on January 21, 2025. (00:00:00) - Introduction (00:01:47) - Industrial Real Estate: First Industrial (00:06:38) - Boom and bust cycle - Oil & shipping businesses (00:09:14) - CONSOL Energy (00:12:08) - Coal businesses (00:21:08) - Frontline (00:26:03) - Micron (00:27:48) - Portfolio concentration (00:30:17) - Reysas (00:31:56) - Investing in Turkiye (00:34:21) - Evolution in investing style (00:35:40) - Evaluating the company's management (00:37:48) - Capital allocation for coal companies (00:40:55) - Risk vs. Uncertainty (00:42:36) - Circle of competence: John Arrillaga (00:44:32) - Look for anomalies in the market (00:48:42) - Book recommendation: The Joy of Costco The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's session with Cambridge Investment Banking Society at University of Cambridge on January 31, 2025. (00:00:00) - Introduction (00:01:38) - Marcus Aurelius: Stoic philosophy (00:04:28) - Learning from mistakes (00:09:01) - Ignore Macroeconomic factors (00:11:57) - Value vs growth investing (00:14:58) - Investing in Turkey: Reysas (00:19:22) - Venture Capital: Bill Gurley (00:23:06) - Handling the 2008 financial crisis (00:24:12) - Skills for value investing (00:27:02) - Look for undiscovered opportunities; Warren's Swiss Army knife approach (00:30:22) - Handling the portfolio concentration and risks (00:33:49) - Sam Walton (00:36:31) - All knowledge is cumulative (00:38:43) - Nick Sleep The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
In today's episode, Kyle Grieve is joined by co-host Clay Finck to summarize key learnings from 2024. We chat about the importance of focus and avoiding confusing noise, data that shows how difficult individual stock picks are to succeed in, why you should welcome disconfirming evidence, the impermanence of seemingly impenetrable businesses, how to close feedback loops to ensure investments are on the right track, the importance of being trustworthy and reliable, and much more! IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 03:11 - Why investors need to focus on the things that matter and how to avoid spending time on noise. 09:19 - Why investors should be aware of the base rates of success of investing in individual stocks (hint, making money is a lot harder than you think). 25:42 - How you can utilize and search out disconfirming evidence to improve your thinking processes. 29:46 - The impermanence of business success and the importance of updating your thinking when new information becomes available. 33:00 - The three sources of investing returns that drive the performance of a stock. 42:53 - How to use punctuated equilibrium to be active at the correct times and inactive at the proper times. 50:52 - Critical lessons on how to close feedback loops for long-term investors. 1:00:29 - How to utilize the "cone of uncertainty" to signal conviction in great ideas. 1:02:49 - Why a great business can still have times of high uncertainty. 1:07:00 - The importance of being trustworthy and reliable. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Listen to Clay's interview with Chris Mayer here | YouTube Video. Listen to Clay's interview with Hendrick Bessimbinder here | YouTube Video. Listen to William Greens' interview with Bryan Lawrence here | YouTube Video. Listen to Clay's interview with Morgan Housel here | YouTube Video. Listen to Clay's interview with John Huber here | YouTube Video. Listen to Kyle's review of What I Learned About Investing From Darwin here | YouTube Video. Listen to Kyle's interview with Annie Duke here | YouTube Video. Listen to Kyle's review of the Nomad Partnership Letters here | YouTube Video. Listen to Stig's interview with Mohnish Pabrai here | YouTube Video. Follow Kyle on Twitter and LinkedIn. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota 7-Eleven Connect Invest Bluehost The Bitcoin Way ReMarkable SimpleMining American Express Public Fundrise Toyota Onramp Vanta Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
In today's episode, Shawn O'Malley (@Shawn_OMalley_) shares his favorite lessons from the billionaire investor Mohnish Pabrai, who some know as the “Indian Warren Buffett.” Pabrai is a master investor, a close friend of Charlie Munger, and a wonderful storyteller, too. You'll learn what it means to circle the wagons in investing, how a few big decisions will end up mattering the most throughout your investment career, how GEICO changed Benjamin Graham's perspective on investing, why Nick Sleep told his investors to simply buy and hold three stocks, what Pabrai learned from having lunch with Buffett, what it means to be a Dhando Investor, plus so much more! Prefer to watch? Click here to watch this episode on YouTube. IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro 03:59 - Why only 4% of Berkshire Hathaway's decisions over the years have explained most of Buffett's outperformance 08:52 - Which three stocks Nick Sleep told his investors to hold after winding down his fund 09:48 - Which types of stocks you'd want to circle the wagons around 10:10 - How GEICO changed Benjamin Graham's perspective on investing 17:19 - What Pabrai learned from having lunch with Warren Buffett 30:26 - Why great companies are not always great investments 37:55 - How the Patels built a motel empire across America 42:24 - What it means to be a Dhando Investor And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Mohnish Pabrai's book, The Dhando Investor. Pabrai's Circle the Wagons presentation. Pabrai's past interviews on The Investors Podcast Network: The Inner Score Card, Masterclass, Playing to Win, Value Investing and Philanthropy. Pabrai's profile in Richer, Wiser, Happier. Check out Richer, Wiser, Happier by William Green. Pabrai's presentation to Peking University students. Pabrai's Dakshana Foundation. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Toyota Facet Bluehost Fundrise Public Airbnb NetSuite Connect with Shawn: Twitter | LinkedIn | Email HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
In today's episode, Stig Brodersen speaks to Tobias Carlisle and Hari Ramachandra. Stig only owns five individual stocks, and in this episode, he outlines why Evolution is one of them. Hari's pick, Occidental Petroleum, a stock Buffett has recently added to, and Tobias pitches Alpha Metallurgical Resources, a value stock that Mohnish Pabrai has loaded up on. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 01:34 - What to make of Berkshire's $300B+ cash pile 33:16 - Stig's bull case is for Evolution (Ticker on the Swedish Stock Exchange: EVO) 41:03 - The bear case for Evolution, including why their margins will likely decline 44:02 - Why Hari is bullish on Occidental Petroleum (Ticker on NYSE: OXY) 47:44 - The bear case of Occidental Petroleum, including macro headwinds 56:46 - Why Toby has invested in Alpha Metallurgical Resources (Ticker on NYSE: AMR) 1:06:28 - The bear case for Alpha Metallurgical Resources, including the role of China Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Listen to Mastermind Discussion Q3 2024 or watch the video. Listen to Mastermind Discussion Q2 2024 or watch the video. Tune in to the Mastermind Discussion Q1 2024 or watch the video. Listen to Mastermind Discussion Q4 2023 or watch the video. Tune in to the Mastermind Discussion Q3 2023 or watch the video. Listen to Mastermind Discussion Q2 2023 or watch the video. Tune in to Mastermind Discussion Q1 2023 or watch the video. Stig Brodersen's Portfolio and Track record. Occidental Petroleum's 2023 annual report. Tobias Carlisle's podcast, The Acquirers Podcast Tobias Carlisle's ETF, ZIG. Tobias Carlisle's ETF, Deep. Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book. Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com. Tweet directly to Tobias Carlisle. Hari's Blog: BitsBusiness.com. Tweet directly to Hari. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Connect Invest TastyTrade Miro American Express The Bitcoin Way Public Fidelity Fundrise Onramp SimpleMining ReMarkable Vanta Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
In today's episode, Shawn O'Malley (@Shawn_OMalley_) discusses the concept of hidden compounders, where some of the most boring businesses can make the best long-term investments. Compared to well-known compounders like Apple and Amazon, which have well-known track records in compounding returns for investors, there are loads of lesser-known companies with less obvious competitive advantages that operate in less exciting industries with equally impressive track records in recent years. You'll learn what it means to be a hidden compounder, why many hidden compounders have invisible moats, what to look for in finding hidden compounders, what makes companies like Old Dominion and Teqnion so successful, why intangible assets can provide more enduring advantages than physical assets, why Peter Lynch loves boring businesses, plus so much more! Prefer to watch? Click here to watch this episode on YouTube. IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro 03:13 - What is a hidden compounder, and how to think about their invisible moats 03:43 - Why Peter Lynch loves boring businesses 06:44 - What signs to look for in identifying hidden compounders 31:36 - What the Lindy effect is, and how it relates to hidden compounders 32:27 - How Warren Buffett has set the standard for investing in boring, hidden compounders 37:48 - Why intangible competitive advantages can be the most enduring 40:17 - Morgan Stanley's conclusions on investing in compounders And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. We Study Billionaires episode 295 with Mohnish Pabrai | YouTube Video. Millennial Investing episode 373 on Monster Beverage | YouTube Video. Millennial Investing episode 379 on quality investing for the long-term | YouTube Video. Read One Up On Wall Street by Peter Lynch. Check out Invisible Moats blog post from Chris Mayer. Guy Spier's interview with Mohnish Pabrai on Hidden Moats. Check out Teqnion stock explained, YouTube interview for We Study Billionaires. Morgan Stanley's 2016 report on the value of equity “compounders”. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Toyota Airbnb Fundrise Public Bluehost NetSuite Connect with Shawn: Twitter | LinkedIn | Email HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Mohnish Pabrai's Talk with GreenHaven Road Partners Fund on October 29, 2024. (00:00:00) - Introduction (00:02:08) - Public Charity status of the Dakshana Foundation (00:04:04) - Feedback loops in Capitalism and Philanthropy (00:09:27) - The Dakshana Foundation model: The inversion impact (00:12:09) - Indian Institute of Technology (IIT) (00:14:13) - Ashok T Kumar: Dakshana Scholar who ranked 63 at IIT (00:18:36) - Operating Mechanics of the Dakshana Foundation (00:19:55) - All India Institutes of Medical Sciences (AIIMS) (00:21:13) - The Dakshana journey (00:23:56) - Dakshana's success rate (00:27:14) - Success Academy (00:29:10) - Stay focused on the cause (00:31:11) - Micro is more relevant than macro (00:34:33) - Error rate in investing The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Guest Lecture at UNO's Maverick Investment Club on October 15, 2024. (00:00:00) - Introduction (00:02:02) - Charlie Munger: Costco (00:05:35) - Warren's rejection of opportunities on moral grounds (00:08:27) - Conwood Chewing Tobacco (00:13:52) - Valeant Pharmaceuticals (00:18:10) - Credit Acceptance (00:23:58) - TransDigm (00:30:23) - Berkshire's investment in Gen Re (00:32:38) - Charlie Munger is irreplaceable (00:36:18) - Berkshire Hathaway after Warren Buffett (00:37:44) - Early start to investing journey (00:40:17) - My daughter's introduction to compounding and investing (00:45:01) - Blackstone (00:45:59) - My journey to investing (00:51:15) - Poor Charlie's Almanack (00:53:13) - Advice for beginners; Be a harsh grader The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Podcast with Kevin (Age 10) and Justin (Age 6) on September 24, 2024. (00:00:00) - Introduction (00:02:37) - Start investing at a young age; Bill Gates (00:06:38) - Invest in what interests you; Warren Buffett (00:10:26) - The best purchase I've ever made (00:12:16) - Bridge (00:14:16) - Compounding - 8th wonder of the world (00:21:02) - Rule of 72 (00:25:38) - Warren Buffett: Compounding since early years (00:34:49) - Key to wealth and a long life (00:40:25) - Value investing (00:44:56) - My journey as a value investor (00:46:47) - Knowledge is cumulative (00:48:15) - My real-life heroes (00:49:52) - Advice for beginners (00:50:47) - Great entrepreneurs of this age The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai manages over $900 million dollars invested in 10 stocks in his portfolio at Pabrai Funds. In this video, we're covering all 7 of his biggest public holdings worth $511 million. Want to support Global Value? https://www.interactivebrokers.com/mkt/?src=gvp1&url=%2Fen%2Fwhyib%2Foverview.php https://www.patreon.com/GlobalValue Mohnish Pabrai is the Investment Portfolio Manager of Pabrai Funds. He's a highly regarded valued investor who became personal friends with Charlie Munger after bidding for and winning a charity auction for lunch with Warren Buffett alongside fellow value investor, Guy Spier. Pabrai's portfolio is extremely concentrated and usually hidden - in fact, we can only see 4 holdings in the United States. Many people online think these are his only holdings, but they're wrong. Pabrai has at least 4 other international holdings that are more secretive for US investors - although he's talked about some publicly in interviews. Watch Mohnish Pabrai's full interviews here: https://youtu.be/FFxUSADENrc?si=ZcWmXWzoc0I2kxog https://youtu.be/Kax8XnBU1ik?si=PlaW03NUd2lIUhFh https://youtu.be/EzMWPRx9-CY?si=anagrU4LmfZvNr6A Thank you for watching. ❤️ Please support the channel by checking out our affiliates. All commissions are reinvested to improve the quality of videos! - TIKR is the website I use for financial data in my videos. Join me and 250,000+ investors worldwide by using TIKR in your investment analysis. Referral link - https://www.tikr.com/globalvalue - Check out Seeking Alpha Premium and score an exclusive 20% off plus a free 7 day trial! Affiliate link - https://www.sahg6dtr.com/H4BHRJ/R74QP/ - Try Sharesight https://www.sharesight.com/globalvalue (remember you get 4 months free if you sign up for an annual subscription!) #mohnishpabrai #valueinvesting #valueinvestor #investing #stockmarket #investing2024 #stockmarket2024 #stockportfolio #mohnishpabraistocks #compounding
Produced by Jetbooks, Chartered Accountants Ireland.Subscribe to the Business Builders Newsletter for the very best ideas I've discovered on business and personal growth.Series 7, Episode #062 features a bonus conversation with Dr. Jack Skeen, a psychologist and executive coach. Skeen discusses his process of helping successful individuals find meaning and fulfilment beyond material success. He emphasises the importance of self-discovery, aligning with one's true self, and using personal superpowers for global benefit. Skeen shares anecdotes from his work, including helping people like Mohnish Pabrai and refers to figures like Genghis Khan, Elon Musk, and Steve Jobs to illustrate alignment with one's purpose.CONNECT WITH CONOR:LinkedInCONNECT WITH JACK:WebsiteLinkedInX (Twitter)Support mental health awareness with Brent Pope's “Elephant in the Room” initiative. Join the movement to de-stigmatise mental health conversations in the workplace and beyond. Adopt an elephant sculpture and show your commitment to creating a supportive environment for everyone. Visit www.elephantintheroom.ie to learn more and get involved.
Mohnish Pabrai's keynote address at TiECON Southwest on November 9, 2013. (00:00:00) - Introduction (00:02:02) - The IndUS Entrepreneurs (00:04:49) - Non-venture-backed start ups (00:06:26) - My first startup: Non-venture-backed (00:09:04) - Philanthropy: Focus on a specific cause for maximum returns (00:12:36) - The Dakshana Foundation: Cloned from Anand Kumar's Super 30 (00:18:44) - Dakshana's goal: 2020 in 2020 The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Session with YPO Delhi Chapter on July 9, 2024 (00:00:00) - Introduction (00:03:56) - Manhattan deal by American Indians in 1626; The Rule of 72 (00:08:45) - My daughter's introduction to compounding (00:11:04) - The Three pillars of compounding (00:13:11) - Berkshire's dozen truly great decisions (00:15:34) - See's Candies vs. Coca-Cola (00:19:38) - Rakesh Jhunjhunwala (00:22:43) - ROI on tech businesses (00:24:56) - Reysas (00:28:05) - Coke's global bottling businesses; Varun Beverages (00:33:36) - Growth vs ROCE (00:35:37) - Investing in index funds (00:36:41) - Be fearful when the world is greedy, be greedy when the world is fearful (00:43:31) - Investing in Coal (00:48:50) - Investing Lessons from Robert Caro (00:52:47) - Selling a stock (00:56:30) - Heinz, See's Candies & Coke The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Session with CFA Society, United Kingdom on June 12, 2024 (00:00:00) - Introduction (00:01:49) - My grandfather Gogia Pasha (00:10:00) - My journey as an investor (00:14:31) - Anomalies in stock market (00:18:11) - Early years of Pabrai Funds (00:21:47) - Value vs. Growth (00:23:48) - Investing is an opportunistic business (00:26:10) - Coal is not a four lettered word! (00:32:45) - Investing in Turkey (00:36:09) - Handling macro-economic risks (00:37:33) - Mistakes are stepping stones to success; Investment checklist (00:43:32) - Building an asset management business (00:52:57) - TAV Airports (00:57:27) - Coca-Cola Icecek The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Session with Rotary Bangalore DownTown and Fellowship of Wealth Creators on June 19, 2024. (00:00:00) - Introduction (00:01:07) - Esther Duflo and Abhijit Banerjee (00:02:12) - Philanthropy: Social return on invested capital (00:10:36) - Framework of Non-profit organisations; The Dakshana Foundation (00:17:03) - Dakshana scholar: Rajiv Kumar (00:19:49) - Dakshana model (00:25:41) - Jawahar Navodaya Vidyalaya (00:30:01) - Dakshana's selection process (00:34:09) - Warren Buffett's philanthropic approach (00:41:49) - Chuck Feeney (00:44:01) - Akshaya Patra Foundation The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Session at The University of Nebraska, Omaha on May 3, 2024. (00:00:00) - Introduction (00:02:53) - Circle the Wagons (00:08:18) - Intrinsic Value vs. Owners' Intrinsic Value (00:16:47) - Starbucks (00:17:34) - Ken Langone: Home Depot (00:20:13) - Berkshire's 12 best decisions in 58 years; See's Candies vs Coca Cola (00:27:22) - Evaluating the management team (00:32:23) - Advice for young investors (00:33:48) - My educational journey (00:38:19) - Memories of Charlie (00:43:24) - Learnings from Charlie Munger (00:45:54) - Cloning is the best model; Chipotle (00:49:25) - Heads I win; Tails I don't lose much (00:51:46) - CONSOL Energy vs. IPSCO (00:57:01) - Value investing (00:59:05) - Impact of macro-economic factors (01:01:13) - Passing on value system to your kids (01:05:01) - Loss aversion: Minimizing risk (01:07:35) - Debt-free businesses are best (01:10:32) - Index investing (01:11:55) - Cryptocurrency (01:12:49) - Knowledge is cumulative The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Q&A session with Dakshana Scholars at the JNV Pune on December 25, 2023 (00:00:00) - Introduction (00:01:56) - One of Dakshana's best alums: T. Ashok Kumar (00:06:06) - Public speaking, lifelong advantage: Toastmasters (00:09:29) - Education system in India vs. US (00:18:51) - Merit over Money (00:24:40) - Rule of 72 (00:35:12) - Maximizing Social Impact (00:36:52) - Don't Worry About Low Scores (00:42:34) - Marcus Aurelius: Failure is the key to Success (00:45:29) - Clone Great Ideas (00:54:07) - Pursue Happiness The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be financial, legal, accounting, tax, or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation, or needs, and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Interview at My First Million Podcast on April 4, 2024. (00:00:00) - Introduction (00:00:34) - Why entrepreneurs make the best investors (00:03:09) - Buffett's early entrepreneurial adventures (00:08:13) - Buffett's introduction to Ben Graham (00:11:39) - See's Candies (00:17:59) - My entrepreneurial journey (00:30:25) - Entrepreneurs don't take risks (00:32:36) - Richard Branson: Virgin Atlantic (00:36:19) - The Patels' motels business in the US (00:41:16) - Introduction to Warren Buffett (00:46:12) - Pabrai Funds (00:54:37) - Lunch with Warren Buffett (00:59:16) - Learnings from Buffett: Be a harsh grader (01:05:32) - Dhandho Investing: Heads I win, Tails I don't lose too much (01:07:21) - IPSCO (01:09:09) - Investing in coal (01:10:12) - Private vs. Public auction-driven markets (01:12:53) - Index funds (01:14:20) - What Puddy (of Seinfeld) can teach us about investing! (01:17:21) - Compounding; The rule of 72 (01:22:40) - Berkshire's 12 best decisions; Ajit Jain (01:29:02) - John Templeton: Trouble is opportunity (01:29:56) - Cryptocurrency (01:31:01) - Nick Sleep; Amazon (01:36:21) - The Walton's Family; Walmart (01:37:13) - Reysas (01:42:26) - Capital allocation: Meta (01:44:13) - Elon Musk (01:46:11) - Learnings from Charlie The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Q&A session with Dakshana scholars at the JNV Bangalore Urban on December 24, 2023 (00:00:00) - Introduction (00:00:29) - Cloning Super 30 (00:03:50) - Rule of 72 (00:09:15) - Ultra-high Social Return on Invested Capital (00:17:16) - Integrity in Philanthropy (00:22:38) - Akshaya Patra: The best of the best! The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be financial, legal, accounting, tax, or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation, or needs, and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Episode 586: Shaan Puri sits down with Mohnish Pabrai for a rare interview about value investing. Mohnish is sometimes called the "Indian Warren Buffett" for having turned $1M into over $1B+ through stock investing. In this podcast they talk about how founders can become great investors, how to avoid big mistakes, and lessons learned from Buffett & Munger. Want to see Sam and Shaan's smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (0:00) Intro (1:41) Why entrepreneurs make the best investors (4:40) How Warren Buffett's pre-paid for his college education (9:56) Becoming Ben Graham's Protege (13:57) What Buffett learned about branding from See's Candies (17:53) Buffett's failed play to be a candy mogul (20:54) Identifying offering gaps (21:47) Getting an MBA at age 14 as the son of an entrepreneur (26:12) The 3 tells of a future millionaire (28:49) Mohnish builds his first product with maxed out credit cards at 24 (31:21) The 168 hour framework (33:56) “Entrepreneurs do not take risks” (36:10) How Richard Branson launches Virgin Atlantic with no money (39:09) How 0.1 percent of the population owns 70 percent of all the motels in America (43:45) The unfair advantage of being a low-cost producer (44:49) How Mohnish turned his first million into $13M in 5 years (48:18) Pabrai Funds grows to $600M in assets in less than 10 years (49:42) What Mohnish knows about fundraising that we don't (55:46) Pivoting from tech investments in 1999 to value investments (58:50) $2M lunch with Warren Buffett (1:04:15) Be a harsh grader of people (1:08:09) The Givers, The Takers, and The Matchers (1:11:30) “Heads I win, tails I don't lose much” (1:16:41) Private markets v public auctions (1:21:15) The #1 trait that makes a great investor (1:22:50) What people of Reddit think of Mohnish Pabrai (1:24:26) Starting capital, annual rate of return, length of runway (1:25:04) The rule of 72 (1;26:03) “The most important rule in life is how long something takes to double” (1:30:21) Circle the Wagons Philosophy (1:32:14) Losing $3B in one unfortunate event (1:37:34) Be fearful when the world is greedy; Be greedy when the world is fearful (1:38:34)What a value investor thinks of bitcoin (1:39:50) Nick Sleep bets (1:52:49) The Best Of: Capital Allocators — Links: • The Intelligent Investor - https://tinyurl.com/3jmpjrmc • The Dhandho Investor - https://tinyurl.com/53p9bhfv • Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
Mohnish Pabrai's Session at The Investor's Podcast on April 1, 2024 (00:00:00) - Introduction (00:01:44) - TransTech (00:03:39) - Managing other people's money (00:08:54) - My journey in investing (00:11:51) - The happiness equation (00:17:12) - Learnings from Buffett; Be a harsh grader (00:22:06) - The importance of truth and candor (00:24:06) - Bridge vs. Poker (00:28:59) - Infinite games (00:30:56) - McDonalds (00:34:02) - Boeing (00:36:12) - Processing information from books (00:40:24) - Pabrai Fund's track record (00:45:25) - The game of investing (00:49:20) - The Dakshana Foundation; Philanthropy The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
On today's show, Stig Brodersen talks with legend value investor Mohnish Pabrai. Since its inception in 1999, one dollar invested in the flagship fund would have turned into $12.51 vs. $4.72 for the S&P500. In the interview, Mohnish Pabrai discusses his approach to a congruent life. Disclaimer: Stig Brodersen is invested in Pabrai Funds. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 10:14 - Which decisions Mohnish Pabrai made to improve his happiness. 15:06 - How to use the Buffett system to grade people. 26:02 - Why Mohnish likes to play bridge more than poker. 31:06 - Which principles Mohnish lives by. 38:58 - How Buffett and Mohnish (do not) take notes. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Mohnish Pabrai's website. Learn more about Mohnish Pabrai's Dakshana Foundation. Our interviews with Mohnish Pabrai about Masterclass Investing | YouTube Video. Our interviews with Mohnish Pabrai about investing in stocks | YouTube Video. Our interviews with Mohnish Pabrai about value investing and philanthropy | YouTube Video. Our interviews with Mohnish Pabrai about value investing | YouTube Video. Our interviews with Mohnish Pabrai about value investing in 2021 | YouTube Video. Our interview with William Green about Mohnish Pabrai and much more | YouTube Video. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota CI Financial AT&T Yahoo! Finance Long Angle iFlex Stretch Studios Public American Express USPS NerdWallet 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Mohnish Pabrai's Session with Massachusetts Institute of Technology's Brass Rat Investments on March 12, 2024 (00:00:00) - Introduction (00:02:03) - Berkshire's 12 great decisions in 58 years (00:05:06) - See's Candies vs. Coke (00:11:55) - Burlington Northern Santa Fe Railroad (00:16:54) - The Intrinsic value of a stock (00:20:52) - Learnings from Charlie Munger (00:27:24) - The Dakshana Foundation (00:33:17) - Sergio Marchionne: Fiat Chrysler (00:38:59) - Identifying investment opportunities (00:47:35) - Finding Anomalies; Seinfeld: Is this anything? (00:52:56) - Investing in Turkey; Coca-Cola Icecek (00:56:28) - A day in my life The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's session with YPO's Mosaic Chapter on March 20, 2024. (00:00:00) - Introduction (00:02:05) - Friendship with Charlie Munger (00:04:22) - Tom Peters; Humans aren't good cloners (00:07:39) - Microsoft (00:09:24) - Berkshire's investment in See's Candies (00:11:18) - Charlie was Ben Franklin reincarnated! (00:16:56) - Charlie's influence over Warren Buffett (00:21:14) - Charlie's mental models; Human reciprocation theory (00:27:40) - Investment discussions with Charlie (00:31:37) - Adam Grant: Give and Take (00:39:50) - Lifetime ban at an LA casino (00:44:07) - Poor Charlie's Almanack (00:46:35) - Charlie's inheritance The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Episode 572: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk about the 10 revelations learned from spending a week with Texas billionaires. Want to see Sam and Shaan's smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5 — Show Notes: (0:00) Tim Ferriss asks Shaan a hard question (panic ensues) (2:46) The Indian Warren Buffett (7:25) "Investing is not a team sport" (8:31) Mohnish Pabrai's Nap Room (10:28) Required reading list of a billionaire (11:47) He built 5 billion-dollar companies by 41 (15:39) 5 Revelations from a day with Joe Lonsdale (19:50) The final level of the money game: private chefs, full size basketball court, etc (20:52) Nick Gray, cocktail party legend (23:45) Hanging out with smarter people (27:17) Nerd sports that make the best entrepreneurs (31:17) Pay attention to what other people pay attention to (33:47) Ben Levy's superpower as a superconnector — Links: • The Dhando Investor - https://tinyurl.com/53p9bhfv • PeachyBbies - https://peachybbies.com/ — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. — Other episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More
Mohnish Pabrai's Q&A session with students at the JNV Kottayam on December 21, 2023. (00:00:00) - Introduction (00:01:53) - Dakshana scholar: T Ashok Kumar (00:10:49) - The Dakshana model (00:21:17) - Rule of 72 (00:26:05) - Cloning Super 30; Anand Kumar (00:35:05) - Giving back to society (00:37:34) - Be a harsh grader (00:45:15) - Inner scorecard vs. Outer scorecard (00:48:18) - My educational journey (00:51:25) - My entrepreneurial journey (00:53:35) - Dakshana's objectives The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Mohnish Pabrai's Q&A session with students at the JNV Bangalore (Rural) on December 24, 2023. (00:00:00) - Introduction (00:01:09) - Introduction to Buffett and Power of compounding (00:03:55) - Rule of 72 (00:13:38) - Overcoming challenges at Dakshana (00:21:20) - Caste reservation vs. Income based system (00:30:24) - Handling the global financial crisis (00:34:08) - Cloning is a powerful mental model (00:37:27) - My educational journey (00:40:31) - My introduction to investing; Peter Lynch (00:42:17) - Reysas (00:46:47) - Work preferences (00:50:03) - Find your calling in life The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
On today's episode, Clay and Stig discuss the performance of Stig's portfolio over the past 10 years and what he has learned from managing his portfolio over that time. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 02:02 - How Stig's portfolio has performed over the past 10 years. 06:29 - Why Stig invested with Mohnish Pabrai. 28:32 - How private investments fit into Stig's portfolio. 33:53 - Stig's biggest investment mistakes. 40:17 - Why investing in Alibaba was a mistake. 46:21 - Stig's biggest winners. 58:32 - How his approach has changed over the years. 1:08:46 - Whether TIP will ever launch a fund. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Stig's blog post on his portfolio and track record since 2014. Learn more about The Berkshire Summit. Track your portfolio with Sharesight. William's book: Richer, Wiser, Happier. Episode Mentioned: TIP442: Investing in Stocks w/ Mohnish Pabrai | YouTube Video. Episode Mentioned: TIP606: Multi-Bagger First Principles w/ Ian Cassel | YouTube Video. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota NetSuite CI Financial Fidelity Wise TurboTax Fundrise NDTCO Linkedin Marketing Solutions Vacasa Babbel Shopify 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Mohnish Pabrai's Session with Columbia Business School (CSIMA) on February 14, 2024. (00:00:00) - Introduction (00:01:28) - Berkshire's 12 great decisions (00:04:52) - Burlington Northern Railways (00:07:49) - See's Candies: Berkshire's big home run! (00:12:48) - Evolution of my investment philosophy (00:16:04) - Berkshire without Charlie (00:20:06) - Be a harsh grader (00:21:49) - Auto dealership business; OEMs vs. EVs (00:25:38) - Evaluating a business (00:28:50) - Met-coal (00:31:18) - IPSCO vs. CONSOL (00:39:06) - Circle of competence (00:41:08) - Diversification of portfolio (00:44:12) - Start your journey early The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
As human beings, our brains are wired to solve problems. This can make long-term investment strategies, like passive investing, surprisingly challenging, especially if you're not accustomed to the ups and downs of the market – it can feel pretty unintuitive to stay the course when your instinct is to take more active steps to solve the problem! So, how can investors remain firm in their strategy and not get spooked by market changes? Joining us today to unpack this question is financial journalist, Nicolas Bérubé, whose new book From Zero to Millionaire: A Simple and Stress-Free Way to Invest in the Stock Market serves as a guide to investors on how to grow their wealth and achieve good portfolio diversification at a low cost. We talk with him about the contents of his book, his observations on financial media and its effect on investors, how to stay committed when making long-term investments, and more. We also spend the top half of the show discussing a popular idea we've seen posted by influencers online, namely that investing in stocks will give you a return of 10% or more per year on average, and the flaws in their arguments. Tune in for a deep dive into investor psychology, financial media, and much more! Key Points From This Episode: (0:01:42) A breakdown of the flaws in the trending online theory being posted by influencers claiming that investing in stocks will give you a return of 10% or more per year on average. (0:09:17) Taking a longer-term view of the US stock market (and other global markets), how it's changed in the past 100 years, and what this means for investors today. (0:16:12) Relevant findings from various papers on US and global stock market returns, US stock market valuations, performance, the impact of survivorship bias, and more. (0:27:01) Why it can be so difficult to capture market return as an investor, and a breakdown of how best to approach historical data. (0:33:33) Talking with Nicolas Bérubé about what he learned from his failed options trade before he started studying markets and the research that helped him become a market optimist. (0:38:24) An overview of Indo-American investor, Mohnish Pabrai, and what Nicolas learned from meeting him. (0:41:05) Unpacking the difference between investing in the stock market and playing in the stock market and the importance of having an infinite vision when investing. (0:44:52) How Nicolas would explain the benefits of index funds and index investing to a novice and why behaviour is the number one obstacle to investor outcomes. (0:48:29) The effect of financial media on investors from Nicolas's perspective as a journalist. (0:51:52) Advice on whether to delegate your investment actions to a financial professional or do it yourself ie. automatic transfers using a robo advisor. (0:56:14) What people should be looking for if they do seek out financial advice and Nicolas's opinion on what investors struggle with most. (0:59:58) Aftershow section: future topics for the show, why we're excited to see more of Mark McGrath, updates on our 24 in 24 reading challenge, upcoming meetups, and more. Links From Today's Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://twitter.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://twitter.com/MarkMcGrathCFP 24 in 24 Reading Challenge — https://rationalreminder.ca/24in24 Nicolas Bérubé on LinkedIn — https://www.linkedin.com/in/nicolas-b%C3%A9rub%C3%A9-27b9b111b/ From Zero to Millionaire — https://fromzerotomillionaire.com/ The Motley Fool — https://www.fool.com/ Rob Carrick — https://www.theglobeandmail.com/authors/rob-carrick/ Andrew Hallam — https://andrewhallam.com/ Somebody Feed Phil — https://www.imdb.com/title/tt7752034/ Everybody Loves Raymond — https://www.imdb.com/title/tt0115167/ Shake Shack — https://shakeshack.com/#/ Figure 01 AI Robot Video on LinkedIn — https://www.linkedin.com/feed/update/urn:li:activity:7173681028664901634/ Books From Today's Episode: From Zero to Millionaire: A Simple and Stress-Free Way to Invest in the Stock Market — https://fromzerotomillionaire.com/ The Algebra of Wealth: A Simple Formula for Financial Security — https://www.amazon.com/Algebra-Wealth-Formula-Financial-Security/dp/0593714024 A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing — https://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393358380 Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy — https://www.amazon.com/Everyone-Believes-Most-Will-Wrong-ebook/dp/B00655BGBG The One-Page Financial Plan: A Simple Way to Be Smart About Your Money — https://www.amazon.com/One-Page-Financial-Plan-Simple-Smart/dp/1591847559 Setting the Table: The Transforming Power of Hospitality in Business — https://www.amazon.com/Setting-Table-Transforming-Hospitality-Business/dp/0060742763 Papers From Today's Episode: ‘The Equity Premium' — https://onlinelibrary.wiley.com/doi/full/10.1111/1540-6261.00437 Scott Cederburg research: ‘Long-Horizon Losses in Stocks, Bonds, and Bills: Evidence from a Broad Sample of Developed Markets' — https://www.paris-december.eu/sites/default/files//papers/2023/4393_scederburg_2023_complete.pdf Jules H. Van Binsbergen Paper: Is The United States A Lucky Survivor: A Hierarchical Bayesian Approach — https://rodneywhitecenter.wharton.upenn.edu/wp-content/uploads/2020/12/30-20.Wachter.VanBinsbergen.pdf
Robert Leonard talks with Stig Brodersen. Stig is Co-Founder and Co-Host of We Study Billionaires by The Investor's Podcast Network, a best-selling author, and a former college professor. He has successfully grown We Study Billionaires to the #1 stock investing podcast in the world, while building a platform that is also a leading authority in stock investing. IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro 01:46 - How to pick a brokerage company to invest with. 06:23 - What stocks, ETFs, mutual funds, bonds, commodities, and options are. 10:17 - How to keep your emotions in check and set realistic expectations. 27:36 - How to actually buy and sell stocks and funds. 35:29 - Different investment strategies that can be implemented. 49:38 - How and why compounding is so important for millennial investors. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Money Under 30 Compounding Example. Recommended Book: I Will Teach You To Be Rich by Ramit Sethi. Recommended Book: The Little Book of Common Sense Investing by John Bogle. Recommended Book: The Education of a Value Investor by Guy Spier. Recommended Book: The Dhandho Investor: The Low-Risk Value Method to High Returns by Mohnish Pabrai. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Toyota DeleteMe Fundrise Linkedin Marketing Solutions NerdWallet TurboTax NetSuite Learn more about your ad choices. Visit megaphone.fm/adchoices
Mohnish Pabrai's Session at the SumZero Virtual Investor Summit 2024 on February 8, 2024. (00:00:00) - Introduction (00:01:05) - Meta (00:03:59) - Google vs. Microsoft (00:08:17) - Dinner with Bill Gates (00:12:30) - TAV Airport (00:20:23) - Investing in coal; David Einhorn (00:25:23) - Auto OEMs (00:27:15) - Reysas (00:30:14) - 20% Office Vacancy Rate! A 45-year high! (00:33:32) - Macroeconomic factors (00:36:58) - Charlie Munger; LA Country Club The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
In this week's episode, Patrick Donley sits down with Clay Finck, host of We Study Billionaires. They do a deep dive into what Clay has learned since becoming a host at TIP, what his biggest takeaways from his favorite interviews have been, who his favorite investors are, how he structures his own portfolio and handles volatility, why The Joys of Compounding is an important book to him, and much more! Clay is a value investor who has been inspired by Chris Mayer, Nick Sleep, and Charlie Munger. He is the host of We Study Billionaires and also helps run TIP's Mastermind community, an initiative he kickstarted in 2023. IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro. 02:00 - How Clay first got turned on to the world of value investing. 05:12 - What his first career steps were. 08:27 - What his thoughts are on index investing vs. active investing. 10:49 - How his transition from actuarial science to host of TIP went. 13:56 - What he's learned since starting as a host as TIP and how his life has changed. 21:38 - How he has used Twitter to share his ideas. 27:11 - What he learned from Morgan Housel's new book. 30:05 - Who he'd love to sit next to on a flight from Nebraska to New York to learn from. 47:05 - What his goal is as an investor. 50:19 - How the TIP Mastermind community has been going and what its benefits are. 58:33 - Why The Joys of Compounding is an important book for Clay. 64:52 - What's in Clay's portfolio and what some of his favorite holdings are. 69:48 - How he deals with volatility in his portfolio and what his typical holding period is. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Recommended book: Rich Dad Poor Dad by Robert Kiyosaki. Recommended book: The Compound Effect by Darren Hardy. Recommended book: Atomic Habits by James Clear. Recommended book: The Snowball by Alice Schroeder. Recommended book: The Simple Path to Wealth by JL Collins. Recommended book: Where the Money Is by Adam Seessel. Recommended book: Same as Ever by Morgan Housel. Recommended book: How Do You Know? by Chris Mayer. Recommended book: Dhando Investor by Mohnish Pabrai. Recommended book: Richer, Wiser, Happier by William Green. Recommended book: One Up On Wall Street by Peter Lynch. Recommended book: Zen and the Art of Motorcycle Maintenance by Robert Pirsig. Recommended book: The Joys of Compounding by Gautam Baid. Check out TIP587: Dino Polska: A Polish Compounder | YouTube video. Check out TIP604: Best Quality Idea Q1 2024—Evolution AB | YouTube video. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Linkedin Marketing Solutions Fundrise Airbnb TurboTax HelloFresh NetSuite NerdWallet Connect with Patrick: Twitter Connect with Clay: Website | Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices
In this week's episode, Patrick Donley sits down with Sieva Kozinsky to do a deep dive into his entrepreneurial career and his journey to building his holding company, Enduring Ventures. You'll learn about Sieva's early adventures in entrepreneurship, the inspiration Berkshire Hathaway provided, the importance of partnering with the right people, and so much more! Sieva Kozinsky is an entrepreneur and co-founder of Enduring Ventures, a long-term holding company dedicated to buying and building beautiful businesses and stewarding them with exceptional, values-driven leadership. IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro. 02:07 - What it was like for his family living in Russia and immigrating to the U.S. 05:19 - How his family's sacrifices have fueled his drive. 06:27 - How a course in entrepreneurship in college changed his career trajectory. 12:29 - How that first business hit a plateau and what his next steps were. 20:18 - What kind of advice he gives younger entrepreneurs just starting out. 23:05 - How joining a book club led to meeting Sam Parr and Tim Ferriss. 30:00 - What lessons he learned about Warren Buffett by reading Snowball. 30:19 - What he learned from Buffett's one-time partner, Rick Guerin. 33:28 - How he met his co-founder and the importance of having the right partner. 53:12 - What Scribe Media does and why they acquired it. 58:07 - Why Sieva has decided to write his own book. 60:05 - How Twitter has changed the course of his career. 64:32 - Why understanding the strategy of the Patels is important and much more!. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Recommended book: The 4-Hour WorkWeek by Tim Ferriss. Recommended book: Can't Hurt Me by David Goggins. Recommended book: The Almanack of Naval Ravikant by Eric Jorgenson. Recommended book: Dhandho Investor by Mohnish Pabrai. Check out Sieva's website. Related episode – MI306: Almanacks and Anthologies w/ Eric Jorgenson | YouTube video. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: NetSuite Linkedin Marketing Solutions Fundrise TurboTax HelloFresh Connect with Patrick: Twitter Connect with Sieva: Website | Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices
In this week's episode, Patrick Donley (@JPatrickDonley) sits down with Kyle Grieve to talk about his transformation into a value investor. They dive into his early investing mistakes, the biggest lessons from his guests on Millennial Investing, how he mitigates risk and what his research process is like, what both fatherhood and jiu jitsui have taught him about investing, and much, much more! Kyle is a value investor, author, and manager of his family portfolio. While Kyle took up stock investing his main job was working as a smart home integrator and network specialist. Now, Kyle is living his dream of learning how to invest and helping to educate other investors who are a few years behind him experience-wise as co-host of both Millennial Investing and We Study Billionaires. He is also an integral part of the TIP Mastermind Community. Kyle is passionate about helping others improve their financial sophistication and helping people take their wealth into their own hands. IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro 02:33 - What Kyle's journey to value investing looked like. 04:18 - What his early investing mistakes were. 04:35 - The 3 books that made the biggest impact on his investment philosophy. 06:29 - Who Kyle would love to sit down next to on a long flight. 11:34 - What it has been like for him joining The Investor's Podcast Network team as a host. 13:46 - What Kyle's writing process is like. 15:42 - Understanding what a “spawner” is. 17:57 - What his biggest lessons from his favorite guests have been. 28:46 - What the benefits are of being part of the TIP Mastermind community. 37:21 - What metrics Chris Mayer looks at to determine future 100-baggers. 35:22 - What the advantages of investing internationally are. 39:30 - How Kyle mitigates risk and much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Poor Charlie's Almanack by Peter Kaufman. Invested by Phil and Danielle Town. The Most Important Thing by Howard Marks. The Intelligent Investor by Benjamin Graham. One Up on Wall Street by Peter Lynch. Li Lu video at Columbia University. Mohnish Pabrai on Coca Cola. Joys of Compounding by Gautam Baid. What I Learned About Investing from Darwin by Pulak Prasad. Great Mental Models by Shane Parrish. Margin of Trust by Lawrence Cunningham. MI305: Exploring the DNA of Quality Businesses w/ Lawrence Cunningham | YouTube video. MI310: A Serial Acquirer's Deep Dive w/ Chris Mayer | YouTube video. MI307: Unpacking the Money Mind w/ Robert Hagstrom | YouTube video. TIP531: The Best Capital Allocator You've Never Heard Of | YouTube video. Check out Kyle's episode TIP587: Dino Polska | YouTube video. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: NetSuite Fundrise TurboTax HelloFresh Connect with Patrick: (@JPatrickDonley): Twitter Connect with Kyle: Twitter | LinkedIn | Website Learn more about your ad choices. Visit megaphone.fm/adchoices
On today's episode, Clay shares a tribute to Charlie Munger since we just crossed what would have been his 100th birthday on January 1st, 2024. Charlie Munger was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett described Munger as his closest partner and right-hand man. At the time of his death, Munger had an estimated net worth of $2.6 billion. Charlie has had an enormous impact on the value-investing community, and this episode is dedicated to him to honor his contributions to the community and his worldly wisdom. IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro. 02:11 - The importance of simplicity in investing and life. 03:17 - The three foundational principles to how Buffett and Munger invest. 08:27 - Why Charlie focused on minimizing standard stupidities to win in life. 14:37 - Munger's lessons on living a meaningful and fulfilling life. 20:02 - How Munger used his setbacks in life as opportunities to learn and grow as an individual. 23:43 - Munger's thoughts on the shortcomings of GAAP accounting. 26:23 - The tremendous importance of incentives. 33:26 - How Charlie helped Warren Buffett become a better investor. 42:48 - An overview of Charlie's investment in Costco and his admiration for the business. 52:12 - The top investment lessons from studying Charlie Munger. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Check out What I Learned About Investing From Darwin. Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com. William Green's podcast interview with Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis. | Youtube Video. Related Episode - TIP494: The Worldly Wisdom of Charlie Munger | YouTube Video. Related Episode - TIP571: Charlie Munger & The Psychology of Human Misjudgment. | YouTube Video. Related Episode - TIP492: The Best Investor You've Never Heard Of (Nick Sleep) | YouTube Video. Related Episode - TIP569: An Investor's Guide to Clear Thinking w/ Chris Mayer. | YouTube Video. Follow Clay on Twitter. Check out the books mentioned in the podcast here. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Glengoyne Whisky NetSuite Shopify Toyota Babbel Salesforce Fundrise Fidelity Vacasa 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! Learn more about your ad choices. Visit megaphone.fm/adchoices
In this special tribute, William Green celebrates the life & legacy of investing legend Charlie Munger. He shares personal anecdotes about his own interactions with Charlie & showcases an array of rich insights about Charlie from four famed investors: Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis. They share some of Charlie's most valuable lessons about investing, business, & life while also conveying what made him such an inspiring & idiosyncratic character. IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro What it was like for William Green to interview Charlie Munger. What William learned from Charlie about trying to be less stupid. How Charlie's friendship changed Mohnish Pabrai's life. What was distinctive about Charlie's reading habits. How his hard, brusque exterior concealed a soft, sensitive interior. Why it's a huge competitive advantage to be trustworthy. How Warren Buffett & Charlie Munger surpassed General Electric. Why it's invaluable to have a partner who challenges your beliefs. What Charlie taught Chris Davis about how to learn from our mistakes. How to succeed by structuring your life to avoid your weaknesses. How Charlie was different from Warren. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Poor Charlie's Almanack by Charles T. Munger & Peter D. Kaufman Listen to William Green's podcast interview with Mohnish Pabrai or watch the video. Tune in to William Green's podcast interview with Tom Gayner or watch the video. Listen to William Green's podcast interview with Chris Davis or watch the video. Tune in to William Green's podcast interview with Joel Greenblatt or watch the video. William Green's book, “Richer, Wiser, Happier” – read the reviews of this book Follow William Green on X (AKA Twitter) Check out all the books mentioned and discussed in our podcast episodes here. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River AlphaSense Wise American Express Business Gold Card Shopify Toyota Ka'Chava Glengoyne Whisky Babbel Alto Linkedin Marketing Solutions Noble Gold Investments Vanta Efani Monetary Metals Salesforce Notion AI 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!
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