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Mohnish's Portfolio Rebounded Handsomely. Is It Because of The Famous Lunch?

July 27, 2009
Saj Karsan

guruek

80 followers
Fox Business News has a video that is available on youtube.com in which Mohnish Pabrai was interviewed. I could not find the video on the Fox Business News website, so I could not tell the date when the interview happened. But it has to be recent as it included Mohnish’s recent performance. Here are the notes I took:


  • 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.

    GuruFocus provides Real Time Guru Picks information for Premium Member. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.

    About the author:

    guruek
    Saj Karsan founded an investment and research firm that is based on the principles of value investing. He has an MBA from the Richard Ivey School of Business, and an undergraduate engineering degree from McGill University.

    Rating: 2.7/5 (17 votes)

    Comments

    Evan
    Evan - 4 years ago
    $650k is way too much to pay for lunch with Buffett to hear him say the same things you have been reading him say for years.
    Evan
    Evan - 4 years ago
    That being said, its never a bad thing to give money to charity... :)
    adamcz
    Adamcz - 4 years ago
    Evan, if you're charging 2 and 20 for your fund, and having a lunch with Buffett lands you even a single big time client, you probably made out on the deal.
    Evan
    Evan - 4 years ago
    Good point. Also, its funny that someone is against giving money to charity. haha
    tkervin
    Tkervin - 4 years ago
    I had to try to balance out the misanthrope who gave charity a single star........:-)

    Please leave your comment:


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