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Buffett Disciple Mohnish Pabrai - A Mosaic of Major Trades
Posted by: Sally Jones (IP Logged)
Date: May 24, 2013 04:47PM
Investor Mohnish Pabrai pays homage to his favorite guru Warren Buffett in more ways than one. Pabrai imitates Buffett’s investing style, and has written books about it. Pabrai also emulates his elder teacher’s philanthropy. Pabrai is the managing partner of Pabrai Investment Funds, as well as an author and a philanthropist serving India’s poorest children. In his first book, "Mosaic: Perspectives on Investing,” Pabrai reveals a new investment model that combines classic value tenets with a contemporary holistic approach to analysis. In “The Dhando Investor” Pabrai distills the wisdom of his formative gurus, Warren Buffett, Benjamin Graham and Charlie Munger. The word “dhandho” comes from India, Pabrai’s homeland, and it means "efforts that create wealth" or more commonly, just “business.”
As of March 31, 2013, Mohnish Pabrai made large impacts on his portfolio when he sold out one major holding and reduced two companies. Here are the details:
Sold Out: General Motors Co. (GM) – Auto Manufacturers
As of March 31, 2013, Mohnish Pabrai sold out his position with GM, selling off a little more than 2 million shares at an average price of $28.41 for a gain of 15.5%. This stock delivered gains in all four quarters held by Pabrai, the highest being the third quarter of 2012, when he gained 54.7%.
This trade impacts his portfolio by -18.9%.
The current share price is $32.82 compared to past valuations:
Reduced: Citigroup Inc. (C) – Banks - Global
As of March 31, 2013, Mohnish Pabrai reduced his position with Citigroup by 13.67%, selling 247,000 shares at an average price of $43.48 for a gain of 15.8%. This stock delivered gains in all four quarters held by Pabrai, the highest being when he first bought in the fourth quarter of 2011, making a gain of 80.8%. Pabrai holds 1,560,000 shares after the trade.
This trade impacts his portfolio by -3.08%.
The current share price is $50.33 compared to past valuations:
Reduced: Goldman Sachs Group Inc. (GS) – Capital Markets
As of March 31, 2013, Mohnish Pabrai reduced his position with GS by 27.94%, selling 55,000 shares at an average price of $147.38 for a gain of 7.3%. This stock delivered gains in all eight quarters held by Pabrai, the highest being the fourth quarter of 2011, for a gain of 62%. Pabrai holds 141,863 shares after the trade.
This trade impacts his portfolio by -2.21%.
The current share price is $158.12 compared to past valuations:
In a recent portfolio update, Pabrai lists six stocks, one of them new, with a total value of $340 million and a quarter-over-quarter turnover of 21%.
In 2005 Mohnish Pabrai started The Dakshana Foundation (Sanksrit meaning “the sacred gift”) with the goal of circulating wealth back into society and helping India’s youth afford an education. Inspired by the philanthropy of Warren Buffett and the Bill & Melinda Gates Foundation, Pabrai donates about $1 million per year for educational purposes.
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Guru Discussed: Warren Buffett: Current Portfolio, Stock Picks
Stocks Discussed: GM, C, GS,
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