The latest development in Mohnish Pabrai’s camp (really three and a half people) is that he adopted a check list for investing.
On April, 2010, in a 30-minute interview Mohnish talked to Steve Forbes about his checklist and how he uses it:
They also discussed the latest stocks that Mohnish bought after adopting the checklist. Mohnish Pabrai mentioned there was one stock that “should remain nameless” as he was still buying the stock.
The secret has been revealed as the latest GuruFocus data shows that Mohnish bought just one stock for the entire quarter of 1Q2010. He bought a total of 2.5 million shares of International Coal Group Inc. (ICO, Financial). The stock accounted for 3.45% of Mohnish’s equity portfolio.
ICG is a producer of coal in Northern and Central Appalachia and the Illinois Basin. International Coal Group Inc. has a market cap of $835.1 million; its shares were traded at around $4.14 with a P/E ratio of 18 and P/S ratio of 0.8.
Interestingly, the coal mining stock is owned by two other high profile investment managers: Wilbur Ross owns 24,537,423 shares as of 03/31/2010, which accounts for 21.35% of the $525 million portfolio of Invesco Private Capital, Inc.. Prem Watsa owns 45,155,588 shares as of 03/31/2010, which accounts for 6.44% of the $3.2 billion portfolio of Fairfax Financial Holdings, Inc..
And recently, Company insider, Director Stanley N Gaines, bought 10,000 shares of ICO stock on 05/18/2010 at the average price of 4.33, the price of the stock has decreased by 4.39% since.
Conclusion
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On April, 2010, in a 30-minute interview Mohnish talked to Steve Forbes about his checklist and how he uses it:
They also discussed the latest stocks that Mohnish bought after adopting the checklist. Mohnish Pabrai mentioned there was one stock that “should remain nameless” as he was still buying the stock.
The secret has been revealed as the latest GuruFocus data shows that Mohnish bought just one stock for the entire quarter of 1Q2010. He bought a total of 2.5 million shares of International Coal Group Inc. (ICO, Financial). The stock accounted for 3.45% of Mohnish’s equity portfolio.
ICG is a producer of coal in Northern and Central Appalachia and the Illinois Basin. International Coal Group Inc. has a market cap of $835.1 million; its shares were traded at around $4.14 with a P/E ratio of 18 and P/S ratio of 0.8.
Interestingly, the coal mining stock is owned by two other high profile investment managers: Wilbur Ross owns 24,537,423 shares as of 03/31/2010, which accounts for 21.35% of the $525 million portfolio of Invesco Private Capital, Inc.. Prem Watsa owns 45,155,588 shares as of 03/31/2010, which accounts for 6.44% of the $3.2 billion portfolio of Fairfax Financial Holdings, Inc..
And recently, Company insider, Director Stanley N Gaines, bought 10,000 shares of ICO stock on 05/18/2010 at the average price of 4.33, the price of the stock has decreased by 4.39% since.
Conclusion
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Mohnish Pabrai for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
