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Insights from Mohnish Pabrai

1. Peter said well, the three reasons you guys have been so successful is that first you’re willing to be extremely patient… The second is that you’re willing to be very decisive… and the third trait is having no concerns about being different from the crowd.

2. Charlie says that for each of us, the opportunities that would truly make us wealthy are not going to come around every week they’ll come around every so often and they come around at unpredictable times but when they do come around and when you do recognize it uh you need to act very significantly and very quickly

3. For most Investments if you can’t do the math in your head then it should be an automatic pass so there was no DCF model run

4. A lot of times in investing what happens and in fact I’m very guilty of that is we tend to look at the kind of past performance of a of security and that taints the way we look at it and actually what you really ought to do is ignore the past just focus on the future

5. Warren and Charlie like to go through long histories of these companies that they study… they read every annual report since the company was public

6. When you have businesses with great business models you end up with dumb managers who do dumb things because even when they do dumb things they look really good because the business is so good

Source:

Turning $1M to $1B+: An Investing Masterclass from the Indian Warren Buffett (Mohnish Pabrai)