Mohnish Pabrai (@MohnishPabrai) is an Indian-American businessman and investor. A disciple of Warren Buffett, he is famous for writing the book: The Dhandho Investor: The Low - Risk Value Method to High Returns.
Let’s look at his top quotes🧵
Let’s look at his top quotes🧵
You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting.
Heads I win, tails I don’t lose much.
Einstein also recognized the power of simplicity, and it was the key to his breakthroughs in physics. He noted that the five ascending levels of intellect were, “Smart, Intelligent, Brilliant, Genius, Simple.” For Einstein, simplicity was simply the highest level of intellect.
The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.
The single biggest advantage a value investor has is not IQ. It’s patience and waiting. Waiting for the right pitch, and waiting for many years for the right pitch.
Minimizing downside risk while maximizing the upside is a powerful concept.
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