The best thing Mohnish Pabrai learned from Warren Buffett is not about investing, it is the way Buffett living his life, the way he runs his affairs. Warren Buffett has no meeting on his calendar, no blackberry, no email account, he has a cellular phone, but it is turned off most of the time. The free schedule allows Buffett to read and think. Through June 2009, Mohnish Pabrai’s fund was up more than 50% YTD after down more than 60%. But as Mohnish pointed out, if you are down 60% and even you are up 60%, you are not breaking even yet. It is hard to say if the lunch has paid off just yet. The video has a segment of Warren Buffett commenting on when to buy a stock. He buys because he thinks he is bound to make a lot of money, not because it will go up or down in the next week, or month. At the time of the interview (Late June or July, it is not obvious to me), Mohnish thinks the this current economic crisis is different from the past ones because economies of China and India still have great potential for growth. He sees mining and commodity companies which will take advantage of the growth. He said he was very active investing during the last few weeks of 2008.
Here is the video from youtube:
According to GuruFocus.com, Mohnish Pabrai’s equity portfolio is up almost 80% that is if he has not changed the portfolio dramatically, which he has not.
GuruFocus also published an articles on the top buys of Mohnish during 1Q09.
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