The Kolkata Value Hunters Club; Q&A with Mohnish Pabrai

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Knowledge Speakers Series | May 12, 2021.
00:00:00 Introduction
00:03:48 Value vs Growth Investing
00:29:15 Investments in India
00:38:17 Learnings from Warren Buffett and Charlie Munger
00:43:11 Dakshana Foundation
00:48:10 Impact of COVID on businesses
00:51:55 Indian hotels business
00:56:20 What’s a great business?
00:58:10 How to select Best Value Proposition?
01:07:52 Unicorns in India
01:12:50 Mohnish’s schedule
01:17:23 Death and Rebirth business
01:23:00 India’s growth and market
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.

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4 июл 2024

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Комментарии : 149

@InvestingwithTom 3 года назад

Mohnish, your video count is compounding at >26%/yr. I like it

@NewMoneyYouTube 3 года назад

Fancy seeing you in the comments haha

@InvestingwithTom 3 года назад

@@NewMoneyRU-vid small world!

@thewarrenbuffettspreadsheet 3 года назад

A Benefit of the lockdowns I guess

@CompoundingEverything 3 года назад

@@InvestingwithTom Can't go anywhere without seeing your mug.

@InvestingwithTom 3 года назад

@@CompoundingEverything I’ll take that as a compliment 😂

@RDd188 3 года назад

Mohnish has such an amazing storytelling skill...Just Loved it...(Just like learning from a Father Figure)

@petelipson3769 3 года назад

Thank you Mr. Pabrai, my family had a small business that was one of the casualties of the Amazon-taking-over-the-world process. I respect Mr Bezos ,and capitalism. As you say, capitalism, is brutal. Our small family company held onto a small sum and I'm using your information, tutoring ,along with Graham, Fisher, Munger, and Buffett, and so far we are doing pretty good. Thank you so much for being a philanthropist and providing your information and knowledge and experience. Your knowledge and feedback has helped me,and our sml company immensely. I'm sure I'm not the only person that has benefited from your knowledge sharing.

@cricbuzz1123 3 года назад

dhamaakedaar Mohnish Ji, thanks for sharing your wisdom at no cost to us.

@hamadbinmahfooz3736 2 года назад

Thank you Monish. Your wisdom and explaining things is remarkable.

@krishpatel1787 3 года назад

Hey, I'm only 17 and learning for you about investing is the best thing ever. THANKS for sharing your knowledge!!!!!!

@myaparker 3 года назад

Same I’m 14 though but love learning from pabrai his content is so valuable

@brayanalonso6646 3 года назад

Great age to start compounding...the world is yours to take, just give it time...

@kuldeepchand8270 3 года назад

Llj

@aanand27 3 года назад

Good luck. Read all that Charlie Munger has written.

@georgesotiriou7051 3 года назад

Nick Sleep's approach morphed over time into Munger's approach. Own 3 positions and then do as little as possible.

@WeLoveValue 3 года назад

that's the way !

@karthikathelli1917 3 года назад

Brilliant how sir makes investing so simple and is able to get to the crux of a company and decide on the investments. Always a pleasure to watch. It is a gift to watch all the uploads.

@lalitnarvekar3387 2 года назад

Thank you Mohnish for your reference about Nick's letter. After reading them I am enlightened with his wisdom and my finance bookish concepts are completely blown apart. Thanks alot...

@33amair 3 года назад

Mohnish sir, thanks for sharing a wonderful observation

@israr_xyz 3 года назад

I have a frugal sense of attention but I watched it all in one go. Very pleasant personality & great knowledge with experience.

@usmansikandar8022 3 года назад

I fell in love with Mohnish a year ago. He might not even know that I exist, but he is my Guru. And I will see him one day, in person, but for that i have to make myself worthy of that meeting, which i am doing everyday of my life.

@user-sl9mc5rw9g 7 месяцев назад

Thank you!Approx 20mins to about 30mins- just so helpful in really drilling home old sleeps ideas on what to look for. Highly recommend investing time reading sleep’s annual letters to shareholders, personally found it much simpler to understand vs Berkshire shareholder letters(in my limited experience!)

@sanjibanichoudhury7517 3 года назад

Great talk. Thank you for sharing

@JaiiDesaii 3 года назад

Thank you sir for the wisdom. I’m an Indian with Chartered Accountancy background and I have been intrigued by investing since I learnt about it in my course. I’ve had been a fan of Warren since few years and had been writing mails to him if I could work for him for free to learn from him. Ofcourse with no response. I’ve read books by Ben Graham and Warren. I’ve been in pursuit of learning investing for Indian companies and now stumbling into your channel has been great treasure chest. Plus with you being close to Warren and Charlie, it’s best of both world. Knowledge of a Charlie Warren and Yourself being given in Indian context is just preciseless. Looking forward to read your book Dhando. Please keep making such videos and imparting such valuable wisdom to people across the world. It would be great if you made such more videos in Indian context too based on your experiences. Lots of love from India.🇮🇳 Stay safe. Tc

@TheMongolianWay 3 года назад

We should put timestamps on every video where the Lunch story starts and ends so we can skip it 38:20 - 43:17

@bananazone4048 3 года назад

Thanks for the interview

@tusharpahurkar2013 3 года назад

B school learning at free of cost.. Thanks mohnish sir

@gabisammut 3 года назад

Thank you Mohnish, you are providing an immense amount of wisdom to us. We are all so lucky to have you at our service!

@ColemanBassett 3 года назад

I like the transition to looking for compounders. They’re lower maintenance and it gets you in the mindset of looking for great companies.

@MrRun4fun 2 года назад

Very enlightening talk thank you sir

@jamesmoloney872 3 года назад

Thanks for this🙌🏻

@candyfloss184 3 года назад

I am from Kolkata. Thank you 🙏

@rawdenim3612 3 года назад

Everybody should be quiet and listen when Mohnish is talking. Thanks for teaching us 🙏🙏

@EverythingMoney 3 года назад

Great video. Thanks for the insight!

@rahulrakshit2426 3 года назад

Great interview thank you sir

@RS-ir1pe 3 года назад

We need more people like u in India.expand dhakshana foundation to more parts of India.

@bwiser1464 Год назад

Hello Monish, I'm from Calcutta and I loved the moment when you said you love Calcutta for it's food ❤️ It feels my heart with joy to confess that what I have learned from u is phenomenal.... And it's great to know that your cousin's ice cream shop is in my city so dying to go to pabrai's ice cream shop What I could see that u feel great when you talk in Hindi and it feels great to listen to you❤️😌

@srbestcartoonandart5493 3 года назад

Thanks mohnish for insights

@DavidMM255 3 года назад

Great Indian music at the beggining of Mohnish videos!

@Neil.Denize 3 года назад

Thank you Mohnish, cheers for sharing.

@crazy4amanaziz 3 года назад

Awesome insights sir. Big fan of yours

@kiranvrao9714 2 года назад

Thanks for the video

@CompoundingMachine 3 года назад

Thank You Monish Sir, for the amazing insights.

@WeLoveValue 3 года назад

Invaluable knowledge as always. Thanks so much for sharing!

@nidoolysudhir8056 2 года назад

Sir, You are an inspiration to many. I am holding 600 shares of Deepak Nitrite at 1200 a piece. Dreaming of becoming like you at some point of time in my life.

@sebfox2194 2 года назад

It looks like you both have a similar hairstyle, so it's a start!

@nidoolysudhir8056 2 года назад

@@sebfox2194 There the similarity ends.

@sanjaykale6235 Год назад

Deepak nitrite will take you there

@freethinker3131 2 года назад

great personality.

@pratikmhatre5392 3 года назад

Mr. Pabrai might buy dmart if stock price goes down as he is more focus on Nicks style of investing,thank you sir I will do the same, listening to you is equal to understanding many books of wisdom,May your health also compound like your knowledge and wealth..

@Allen-L-Canada 3 года назад

I like the empty-calendar idea. :)

@khizarqureshi8840 3 года назад

Thanks Mohnish

@sumantadeb2877 3 года назад

Hope to meet you someday Mohnish Sir in Kolkata for lunch. As the lunch with Warren Buffet was a memorable day in your life in the same way that day would be memorable in my life if it happens as I regard you my guru. Hope the dream come true one day. I owe a debt of gratitude to this great man.

@sourishsaha8067 2 года назад

Love from Kolkata

@ks-dd7gv 2 года назад

From Kolkata here, been following you for a long time. Thanks for your kind words about our city!!

@manojmaheshwari7497 3 года назад

Thank you for great and insightful talk.

@vipingupta3694 3 года назад

fantastic Mohnish,!!!!!

@muhammedismail5547 3 года назад

Very interesting insights, especially regarding indian hotels. Thanks for sharing. I am always learning something from your videos.

@rajp5668 3 года назад

thank you for sharing your knowledge and time!

@jagatdave 3 года назад

Achha explain kiya

@divineyogi21 3 года назад

Mr. Pabrai I am a big fan of Yours

@rsriram95 3 месяца назад

At the time of this video, Indian hotels was 130 Rs per share. Same stock grew 4x over period of 2021-2024. Agree with Mohnish point that it is a poor capital allocator (low ROE/ROCE) and didn't buy the stock/ hotel business but isn't it bare minimum to say we are missing something?

@RadMan24 3 года назад

Fantastic stuff!

@WeLoveValue 3 года назад

all his videos are pure gold :) I always learn something new

@havrenne 3 года назад

When wealth is lost, nothing is lost; when health is lost, something is lost; if Mohnish is lost, all is lost :D

@HavardJonassen1 3 года назад

Haha

@mosufkhan 3 года назад

29:15 😂😂 I just downloaded this book yesterday and circulating in our group also.😂😂

@prince5191 3 года назад

I laughed so hard

@mohitbaid8148 3 года назад

🤣

@madhavgmk 3 года назад

😂

@samarthpandey8483 3 года назад

😂 😂 😂

@Jiwonsharma 3 года назад

Where can i get it not able to find

@vikramsathi2831 3 года назад

What a great talk!! Loved it! Thanks!

@kishantantiya3327 2 года назад

Great chat 👌

@psonn4386 3 года назад

Monish, Indian Hotels never purchased The Pierre. Actually, capital allocation story is much worse! The Pierre is an expensive lease for which IHCL paid over $29M when 4 Seasons wanted to dump it for free. To further add wastage IHCL pumped in over $75M in renovations. They also sold Taj Boston at a throw away price just to dress up the balance sheet. Great opportunity to short at the time. They blew away over $350M in the US for 3 properties. Colossal waste of capital!!

@patrickzingg8657 3 года назад

RYSAS seems to be the turkish company he is talking about. No guarantee of course though. They seem to be in financial trouble though.

@wo1162 3 года назад

I want to buy your book dhandho investor but flipkart and Amazon are showing outoff stock in India and some are selling at really high prices such as 1800₹ but the paperback is just of 400-600₹😞sad for me .

@pjtopjj9238 3 года назад

Hi Mohnish, if you could share, what platform do you use for your international investments

@dmehta3476 3 года назад

Dear Respected Mr Pabrai besides Q/K reports - please suggest your resources for detail information on some of these things you mention in video. Thanks

@siddharth0401 3 года назад

Lee lu's story didn't come up this time

@josecarlosazor3337 3 года назад

Holly freak I really like the intro music.

@sirishdocs 3 года назад

Hi Mohnish, Thanks for another knowledge sharing video. I am curious to know if you have any plans to come with a book sharing your personal interactions and experiences with Charlie Munger. I think that would make it a great book to offer for Charlie's 100th birthday.

@siddg1463 3 года назад

Great idea!! “Dinners with Charlie”

@webentwicklungmitrobinspan6935 3 года назад

its so amazing to enjoy this deep insight and wisdom for free, thank you very much i hope to pay you back by buying a meal with you in the distand future :)

@samhu7923 3 года назад

Hi Monish, I am big fan of yours. With big discount to Tencent value and good visions of two chairmans of Nasper. Do you think Nasper is good company to invest? Thanks

@Prosperousprotocols 3 года назад

Hint look at prosus

@tarunchandna108 2 года назад

❤️

@sujeetpandey7767 3 года назад

I liked his concept of funeral investing..and also the naivety of the girl asking such question..🙄🙄

@kaifjamal6265 3 года назад

Great talk sir! What's your view on market infrastructure stocks. Like CAMS would you consider them a great business or are they cyclical in nature too?

@RDd188 3 года назад

Any business related to capital Markets is to some extent cyclical in nature...

@kaifjamal6265 3 года назад

@@RDd188 Agreed but CAMS has a business model where they collect amc charges on mutual fund holdings and mutual funds are generally a product for the long term hence somewhat counters the cyclical nature. Also since CAMS has a wide moat and very small percentage of people within the country have invested in mutual funds so it's a highly scalable business. Hence my question of whether it's a great business

@naeemf6019 3 года назад

@@RDd188 Saas Businesses like adobe Salesforce aren't

@vatsalnahata5809 3 года назад

Mohnish what about Asian Paints, Bajaj Finance?

@SuperRockstar007 3 года назад

Only Rakesh knows INDIA better.

@stevenobinator2229 3 года назад

MY BROTHER, WHY DO YOU ONLY HAVE 3 POSITIONS IN THE STOCK MARKET. I SAW IN A PAST INTERVIEW THAT YOU USE TO HOLD 5% EACH

@thewarrenbuffettspreadsheet 3 года назад

Naspers market cap seems to be 91 billion usd. How can that be if they hold tencent stocks worth at least 200 billions?

@patrickzingg8657 3 года назад

Debt?

@thewarrenbuffettspreadsheet 3 года назад

@@patrickzingg8657 Discount seem to be real, but has some problems to unlock value.

@naveen3401 2 года назад

1:27:17 Ishita he doesn't live in Omaha 😭

@charlielim1179 3 года назад

End up Monish bought ali baba not Tencent...😎

@investorsudhir9299 3 года назад

Mujhe laga Mehul Choksi hai 😂😂

@zeeshansunesara2822 3 года назад

Theres a saying when you pay peanuts you get monkeys 🐵 58:16 ...This uncle made my day 😂

@jayangli 2 года назад

Zeeshan so you mean if you pay little you get not much? I think yes and no there is no one single answer.

@kirandeepatwal6280 3 года назад

Monish you again made a mistake by liquidating the position in rain industries. 😀 Have some patience. Though, you are right that the fundamentals of the company are not that strong but technicals are good.

@ramswaroopmohanty2730 3 года назад

59:28 , Everyone Gangsta until this guy says he is the CFO of Shree cement 😎

@msrmaddymech 3 года назад

But forgot to spit out the gutka before the query. Cough cough and clears throat on the call

@imlkr_ 3 года назад

@@msrmaddymech 😅 typical indian higher level management

@thushar0000 3 года назад

29:13 admission of piracy?

@SuperRockstar007 3 года назад

Kishor has no idea where his face camera is , ha ha

@dhruvapandey17 3 года назад

Nobody asked him about his real estate investments ... such a shame.

@DavidMM255 3 года назад

He talks about Seritage during the last part of the video, also talked at the beginning about the Turkish warehouses, I think you missed those or we watched a different talk :)

@Xyz19781i 3 года назад

wow hometown

@sujonpalit3436 3 года назад

I am from kolkata

@jagatdave 3 года назад

Oh. God...out of whole world...he compares India with singapore...india should be compared with Mexico or china or turkey...

@Keelansteele001 3 года назад

It’s incredible how much success one stands to attain with professional assistance in the financial market, with the help of my fund manager I’ve been able to generate a passive income streamline from my investment returns, earning almost thrice my old salary

@Amrishpoduri 3 года назад

how do you run your investments with your fund manager? for as long as i can remember i’ve procrastinated on my plans to venture into investments

@Keelansteele001 3 года назад

@@Amrishpoduri I contracted an expert funds manager by name Ronald B. Furey who provides an investment management service to manage and grow a certain amount of my income by investing them into various market commodities (mainly stocks and cryptocurrencies) using his superior expertise giving me a much better standpoint and chance of earning colossal profit returns. His ability to create strategies that works in accordance with the market trends is something that comes easy to him and I’m glad I took advantage of that, with a total grossed profit of over $67k

@Keelansteele001 3 года назад

@@Amrishpoduri If you might require his assistance reach out to what s app

@Keelansteele001 3 года назад

+ 1 3 8 5 4 3 7 1 1 5 8

@Amrishpoduri 3 года назад

@@Keelansteele001 how do you do it.... i mean what processes do you have to go through?

@hamadbinmahfooz3736 2 года назад

Hope your subscription do compund as your wisdom does as well. Please give me a shout would mean a world to me. Thank you.

@yogeshbisht7777 2 года назад

29:14 "I just downloaded this book" This was funny .... and they want to be Investors

@siddharth0401 3 года назад

Sir don't put all eggs in one basket, risk management is important, there is no empirical evidence of concentrated portfolios doing better so buy atleast 25 stocks out of which 5 will do significantly better than the median return and it works out well, also out stop loss so that emotion doesn't overpower, picking 5 stocks thinking that those 5 will be the outperform doesn't make sense, there is always something we can't predict and so one has to be careful with concentrated and high conviction portfolio, plus value investing is no more working, market is efficiently evaluating stocks and most of the good companies are valued high, good luck on your future investment

@jordivilarrambla635 3 года назад

10-15 quality compounder business es is the key. You can't get 25 stocks with this model.

@DavidMM255 3 года назад

Yeah, markets are very efficient with Tesla worthing more than all car manufacturers altogether and zoom comunications more than mayor Airlines combined. Obviously you know a lot about businesses :)