Now Mohnish is taking one from Buffett's playbook to help Pabrai's favorite charity.
Mohnish Pabrai will host a lunch to benefit The Dakshana Foundation. Mr. Pabrai will dine with the winning bidder and up to seven friends on a mutually agreed upon date.
WHERE: Anywhere in Southern California, or any metro city in India, or any other mutually agreeable location.
WHEN: Mutually agreeable date
100% of the proceeds from the winning bid will benefit The Dakshana Foundation. The Dakshana Foundation is a young philanthropic foundation focused on alleviating poverty. Education is the most powerful and enduring weapon to win the battle against poverty. Our focus is on providing 2 years of world-class IIT-JEE (Joint Entrance Exam) coaching to gifted, but impoverished students in rural India. For more information, visit the website: [url=file://server/I_Documents/www.dakshana.org]www.dakshana.org[/url] and read our most recent Annual Report -http://www.dakshana.org/AR10.pdf
“In the fall of 2010, Ray Faltinsky of Rancho Santa Fe (California) nudged me and said that he'd be happy to donate $10,000 to Dakshana if I met him for lunch. I suggested to Ray that at $10,000 a meal, I was available to break bread with him pretty much every day!
We met in October for lunch at the Montage Resort at Laguna Beach in California and had a great time. As he handed me an envelope, Ray said that he had studied Dakshana in some more detail in preparation for our meal together and concluded that $10,000 was woefully inadequate. He gifted $26,000 to Dakshana instead! Since Ray wasn't biting on my daily lunch offer, I suggested that perhaps we could make this an annual affair. He was quite enthusiastic about it and we concluded that perhaps the best approach was to auction lunch off with me on eBay. He said that he'd endeavor to either win the lunch or make sure Dakshana received a solid boost to its coffers if he lost.
My wallet is getting old and I need a new one! So, I'll give my old wallet to the winner at the lunch. They're likely to find a stock tip (with no reps or warranties!) in there.”
2010 Dakshana Annual Report
Mohnish Pabrai is the Managing Partner of the Pabrai Investment Funds. Since inception in 1999 with $1 million in assets under management, the Pabrai Funds has grown to around $500 Million in assets under management in 2011. The funds invest in public equities utilizing the Munger/Buffett Focused Value investing approach.
Pabrai is the winner of the 1999 KPMG Illinois High Tech Entrepreneur award given by KPMG, The State of Illinois, and The City of Chicago. He is an active Member of the Young President's Organization (YPO). He is the Founder of the Dakshana Foundation (www.dakshana.org) which has sent over 250 impoverished kids to the IITs in India so far.
Mohnish strongly believes in a balanced life between work, family, and personal time. He enjoys spending time with his wife, Harina and children. He loves reading, playing duplicate bridge and being a value investor following Buffett/Munger principles. He lives in Irvine, California.
If you have any questions regarding this auction, please contact us by e-mail or call us at 949-453-0609.