Musings by Mohnish Pabrai...

Mohnish Pabrai is the founder and Managing Partner of the Pabrai Investments Funds, the Portfolio Manager of the Pabrai Wagons Fund, the founder of the Dakshana Foundation, and the author of The Dhandho Investor and Mosaic: Perspectives on Investing​.

The contents of this website 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. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Beware of Scams Using My Name - Mohnish Pabrai

7/9/2025

I have been made aware that scammers and fraudsters are using my name, picture and doctored videos to target people online with fraudulent attempts to send money to be invested in non-existent investment schemes or for compensation for investment tips. The examples I’ve seen so far have been in perpetrated in India, but they may be elsewhere too. These are totally fake. Please read below to protect yourself:

  • I presently manage only three investment vehicles: (1) Pabrai Investment Funds, which are private funds for high net worth accredited and qualified investors, (2) the Pabrai Wagons Fund, a mutual fund for retail investors, and (3) Dhandho Holdings, which is private and open only to high net worth accredited and qualified investors. If you are being solicited to send money to any other fund that claims to be managed by ​me or for any investment tips, do not do it. Please report it to mpabrai@pabraifunds.com.
  • I will never, ever ask you to send money through WhatsApp, X (Twitter), Facebook, Telegram, Skype or any other text-based messaging app. If you are being asked to send money through any of these platforms to any individual or entity that claims to have any connection to me, do not do it. Please report it to mpabrai@pabraifunds.com.
  • Business e-mail communication from me or my team will always come from one of our registered domains, which are: @pabraifunds.com, @dhandhofunds.com or @wagonsfund.com. Please double check the email domain names of emails that you receive. Do not respond to any emails coming from any other domain extension except for those coming from our email address.

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Economic Times Interview: Volatility is the Friend of a Long-term Investor

8/28/2018

I very much enjoyed being interviewed by The Economic Times on the sidelines of the Motilal Oswal Annual Global Investor Conference in Mumbai. We discussed a range of topics including P/E of 1 stocks, cloning and my investment checklist.

Enjoy!

https://economictimes.indiatimes.com/markets/expert-view/volatility-is-the-friend-of-a-long-term-investor-mohnish-pabrai/articleshow/65570377.cms

The Trust vs. Truth Talk at JNV Bundi (Rajasthan) on June 2, 2018

7/24/2018

I recently gave the “Trust vs. Truth” talk to the Class of 2019 Dakshana Scholars at JNV Bundi (Rajasthan, India) on June 2, 2018. These scholars will take the IIT entrance exams in 2019. The majority are likely to be accepted by the IITs.  

We explored the variables Buffett believes are key to success in life (integrity, intelligence, and energy), Marcus Aurelius’ Stoicism and the importance of adversity, and the motivations behind establishing the Dakshana Foundation.

Enjoy!

https://www.youtube.com/watch?v=j72nRsSPIi0&feature=youtu.be

Interview for the Leadership show

6/27/2018

I very much enjoyed speaking to Rohilesh Singh, founder and CEO of Populis, for the Leadership Show. We talked about the importance of giving back (in time and resources), the Dakshana Foundation, how to invest in profitable businesses and the importance of checklists in investing.

Enjoy!

http://www.populis.com.au/single-post/2018/06/21/CLEVER-INVESTOR-AND-GIVER-Rohilesh-X-Mohnish-Pabraihttps://www.youtube.com/watch?v=m53ukJMuO78

Interview with SumZero in Forbes – Advice for Value Investors

6/26/2018

I very much enjoyed my chat with Kevin Harris from SumZero published on Forbes.com. We covered a range of topics including checklists, a fair management fee structure, and the importance of doing your own investment research.

Enjoy!

https://www.forbes.com/sites/kevinharris/2018/06/25/mohnish-pabrais-advice-for-value-investors/#60ce25d122ed

Your deepest desire is your destiny (The Upanishads)

6/14/2018

I very much enjoyed my Q&A session with the Class of 2019 Dakshana Scholars at JNV Silvassa (Union territory of Dadra & Nagar Haveli, India) on February 25, 2018. This all-female batch of Dakshana scholars will take their medical entrance exams in 2019. The majority are likely to be accepted by the best medical schools. Their questions covered a broad range of topics related to my childhood, compounding, lessons from my failures and motivation behind our establishing the Dakshana Foundation.

Enjoy!

https://www.youtube.com/watch?v=jjjI5O_uZUA

Chai With Pabrai: ET Now Interview

6/4/2018

I very much enjoyed being interviewed by ET Now for a "Chai With Pabrai" segment. We discussed a wide range of topics including my views on stocks in India, circle of competence and Dhandho investing (low risk high uncertainty) in India.

Enjoy!

https://www.youtube.com/watch?v=T7Qr1Ze8vNA

Lecture at Columbia Business School: “Where have we been and where are we headed?”

5/11/2018

I recently gave a talk to Prof. Bruce Greenwald’s "Legends of Value Investing" class at Columbia Business School entitled “Where have we been and where are we headed?” We discussed historical performance periods in the capital markets and lessons we can glean for our future.

Enjoy!

It is best to watch the video using the Firefox browser. It may take a few minutes to load. You may want to turn up the volume for better audio. You can toggle between the slides and the video by clicking on the box in the bottom right of your screen:

https://echo360.org/media/80cb039a-ded1-4395-a673-6b548ab27ea4/public

ET Now Interview at Berkshire Hathaway Annual Meeting

5/8/2018

I very much enjoyed being interviewed by ET Now at the Berkshire Hathaway Annual Meeting with Guy Spier and Raamdeo Agrawal. We discussed our experiences attending Berkshire meetings over the years (it was my 21st meeting!) and the lessons that are reinforced every year on our annual pilgrimage to Omaha.  

Enjoy!

https://www.youtube.com/watch?v=7FspBQlgu88&app=desktop

Talk With Class of 2019 Dakshana Scholars – Dec. 24, 2017

4/30/2018

I very much enjoyed my Q&A session with the class of 2019 Dakshana scholars at JNV Kottayam, Kerala, India on Dec. 24, 2017. These scholars will take the IIT entrance exams in 2019. The majority are likely to be accepted by the IITs. Their questions covered a broad range of topics related to compounding, as well as the reasons behind our establishing the Dakshana Foundation.

Enjoy!

https://www.youtube.com/watch?v=jqX9AgwgwTY&feature=youtu.be

I suggest the following books to start one's journey into finance and investing:

1) 1958-1970 Buffett Partnership Letters (these are available at various places on the web, including http://pragcap.com/warren-buffett-partnership-letters).  Cost: Zero

2) The Warren Buffett letters to Berkshire Hathaway Shareholder.  These are posted at www.berkshirehathaway.com.  Cost: Zero

3) 1995 published biography called “Buffett:  The Making of an American Capitalist” by Roger Lowenstein.

4) 2009 published book “Snowball: Warren Buffett and the Business of Life” by Alice Schroeder.

5) “Poor Charlie’s Almanack” by Peter Kaufman.

6) “The Dhandho Investor” by Mohnish Pabrai.

7) Berkshire Hathaway Letters to Shareholders  - 1965-2014

8) Berkshire Hathaway Letters to Shareholders - 1965-2017. Only available on Kindle but cost is just $2.99.

Patel's Business Secrets - Video On the Dhandho Investor

3/30/2018

I enjoyed this video that summarized the Patels’ business practices from "The Dhandho Investor." The video explores how the Patels got into the motel business in the U.S, their low cost operating model and high return on equity. Heads I win, tails I don't lose much!

https://www.youtube.com/watch?v=INSuLnQJvuY&feature=youtu.be&a

Enjoy!

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