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!

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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

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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.

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