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Holly LaFon
Holly LaFon
Articles (9592)  | Author's Website |

Mohnish Pabrai Interview With GuruFocus: Finding Value in India and the US

In podcast episode, Pabrai discusses finding value in overpriced markets, investing in India and Turkey, buying Micron Technology in the 4th quarter and more

March 22, 2019 | About:

One of today’s foremost value investors, Mohnish Pabrai (Trades, Portfolio) joined GuruFocus this week to share his insights and discuss recent portfolio moves.

Pabrai, the founder of Pabrai Investment Funds and Dhandho Funds, manages around $1 billion and has far surpassed the market, with a 14.2% annualized return from 1999 through 2015, versus 4.3% for the S&P 500 index. In 2007, he and friend Guy Spier also placed the winning bid for an auction for lunch with Warren Buffett (Trades, Portfolio), whose letters and biography first inspired him to sell his business and go into investing.

In the interview, the bottom-up stock picker known for his guideline, “Heads I win; tails I don’t lose much,” delved into why he has shifted most of his portfolio from the U.S. to India even though its market is near an all-time high, and disclosed that he made new investments in Turkey and South Korea as he adapts his investing approach to overpriced U.S. markets. He also described what drove his fourth-quarter investment in the only U.S. company in his portfolio, Micron Technology Inc. (NASDAQ:MU), and how he thinks about the future of the auto industry in light of his position in Fiat Chrysler Automobiles NV (NYSE:FCAU).

Regarding his investment style, the Buffett disciple talked more about some of his key concepts, including price-earnings ratio of 1 stocks, his checklist and the No. 1 mistake investors make. Finally, he answered some questions from GuruFocus readers, which they asked here.

Listen to this and more podcast episodes with other renowned investors here.

See Mohnish Pabrai (Trades, Portfolio)’s U.S.-listed portfolio here.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


Rating: 4.5/5 (8 votes)

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Comments

vgm
Vgm - 1 month ago    Report SPAM

Excellent interview, Holly! Thanks

Holly LaFon
Holly LaFon premium member - 4 weeks ago

Thank you!

towens1854
Towens1854 - 4 weeks ago    Report SPAM

Terrific interview!

Watchdog
Watchdog premium member - 4 weeks ago

Great interview, full of interesting insights into value investing. Thank you. Videos (as opposed to podcasts) of interviews with these top investors would be even greater.

Holly LaFon
Holly LaFon premium member - 4 weeks ago

We'll be incorporating some video at the conference this year. Also, look for the transcript of this interview soon.

Watchdog
Watchdog premium member - 4 weeks ago

A transcript is a good idea.

ompsharing02
Ompsharing02 premium member - 3 weeks ago

is S and P annualized returns from 1999 is only 4.3%? can you please check facts once again..thanks

cor7997
Cor7997 - 3 weeks ago    Report SPAM

From the lowest point in 1999 (1,212.19 on 01/14/99) S&P 500 annualized returns to end of March 2019 are 6.3%.
From the highest point in 1999 (1,469.25 on 12/31/99) S&P 500 annualized returns to end of March 2019 are 5.49%.

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