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Mohnish Pabrai Top Purchases: Terex Corp., Cresud Inc., Berkshire Hathaway, Fairfax Financial Holdings, and Brookfield Properties Corp.

(GuruFocus, September 17, 2009) Following the previous article on Mohnish Pabrai’s top holding. This are his top purchases during 2Q09, these are companies that he bought the most during 2Q09: Terex Corp. (TEX), Cresud S.A.C.I.F. y A. (CRESY), Berkshire Hathaway Inc. (BRK-B), Fairfax Financial Holdings Ltd. (FFH), and Brookfield Properties Corp. (BPO).

We review the last three companies (BRK-B, FFH, BPO) in the Top Holding article, so here are just the remaining two:

No. 1: Terex Corp. (TEX), Buy: 2.16% of the portfolio - Total: 420,350 Shares

Terex Corp. is a global manufacturer of a broad range of construction and mining related capital equipment. The company strives to manufacture high quality machines which are low cost simple to use and easy to maintain. The company's principal products include telescopic mobile cranes aerial work platforms utility aerial devices telescopic material handlers truck mounted mobile cranes rigid and articulated off-highway trucks and high capacity surface mining trucks and related components and replacement parts. Terex Corp. has a market cap of $2.13 billion; its shares were traded at around $19.75 with a P/E ratio of 31.9 and P/S ratio of 0.2. Terex Corp. had an annual average earning growth of 11.3% over the past 10 years.

Pabrai initiated the 430,350 share position in 2Q09.

No. 2: Cresud Inc. (CRESY), Add: 0.73% of the portfolio - Total: 1,620,311 Shares

CRESUD SA-ADR is involved in the Agriculture Industry. They are based in Argentine and they produce basic agricultural products. Products such as beef milk or crops. Cresud S.a.c.i.f. Y A. has a market cap of $632.5 million; its shares were traded at around $13.32 with and P/S ratio of 1.5. The dividend yield of Cresud S.a.c.i.f. Y A. stocks is 0.8%.

Pabrai bought 643,408 shares in 4Q08 and increased shares during the past two quarters.

Conclusion

Mohnish is very selective in what he purchases, aside from the three companies run by top notch money managers, his top purchase include a new stock -- mining equipment company Terex Corp. and added on his existing position Argentina agriculture company Cresud.

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About the author:

guruek
Ravi Nagarajan is a private investor and Editor of The Rational Walk website. Ravi focuses on applying value investing techniques to find securities trading well below intrinsic business value. Ravi has over 15 years of experience in the financial markets and started investing on a full time basis in 2009. From 1996 to 2009, Ravi held a number of technical and executive level positions in the commercial software industry. Ravi graduated Summa Cum Laude from Santa Clara University with a degree in finance. Visit his website The Rational Walk

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