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.
Track Gurus’ Stock Purchases Daily – Real Time Guru Picks
GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 3 days after the date of the transaction. This is just one of the features provided with GuruFocus Premium Membership.
Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC.
Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.