TIP812: Mohnish Pabrai on Berkshire & Letting Winners Run

On today’s show, Stig Brodersen talks with legendary value investor Mohnish Pabrai. Since its inception in 1999, one dollar invested in the flagship fund would have grown to $17.29, compared with $6.29 for the S&P 500. In the special interview, you can join Mohnish and Stig’s discussion on Berkshire Hathaway, investing mistakes, and the importance of letting winners run.

Disclaimer: Stig Brodersen is an investor in Pabrai Funds, which creates a potential conflict of interest, as he may benefit if the funds perform well. He will not be compensated for this interview

IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:01:53) Whether Greg Abel’s compensation is fair
(00:05:21) Why most investments fail, and why that’s okay (the “4% rule”)
(00:11:40) Whether to own Berkshire Hathaway or the S&P500 over the next century
(00:28:23) Why Stig thinks that Mohnish diversifies too much
(00:31:04) Why good asset managers should eventually have 95% of their portfolio in one stock
(00:36:21) How Mohnish met Michael Burry
(01:04:50) What Mohnish learned from his best friend Guy Spier

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

BOOKS AND RESOURCES

• Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ (theinvestorspodcast.com/mastermind-2).

• Mohnish Pabrai’s website (chaiwithpabrai.com).

• Learn more about Mohnish Pabrai’s Dakshana Foundation (dakshana.org).

• Our interviews with Mohnish Pabrai about Investing and Life Lessons (theinvestorspodcast.com/episodes/investing-and…).

• Our interviews with Mohnish Pabrai about The Inner Scorecard (theinvestorspodcast.com/episodes/the-inner-sco…).

• Our interviews with Mohnish Pabrai about Masterclass Investing (theinvestorspodcast.com/episodes/masterclass-w…).

• Our interviews with Mohnish Pabrai about investing in stocks (theinvestorspodcast.com/episodes/investing-in-…).

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