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Mohnish Pabrai Quotes


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Quotes by Mohnish Pabrai

Showing 21-30 of 33 Quotes by Mohnish Pabrai

One of the first things I tell people is, if you want to learn about investing, you want to open an account and make real investments because that's when it becomes real.

~Mohnish Pabrai

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I used to not talk much to anyone about my investments.

~Mohnish Pabrai

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It is the performance of the business that matters. It is hard enough to figure out the future of the business. Do not try to figure out the future of the country or the world; focus on the business.

~Mohnish Pabrai

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We have to do what I would call anomalies: we have to look for strange things that show up once in a while. They don't show up all the time. We have to be scanning the horizon, and doing that, once in a while something will show up that makes a lot of sense, and then you act on it.

~Mohnish Pabrai

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The good thing about getting wealthy is we don't need to understand a lot of things!

~Mohnish Pabrai

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What is John Arriaga's circle of competence? Is it real estate? No! Is it U.S. real estate? No! Is it California real estate? No! Northern California real estate? No! Only real estate around Stanford. His circle of competence is this small.

~Mohnish Pabrai

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One might think of investment managers as astronomers and CEOs as astronauts. The two roles are radically different with distinct personality traits. Like astronomers, investment managers tend to be introverted, skeptical, and very analytical. CEOs, like astronauts, are the exact opposite, typically being extroverts, optimists, and, well, leaders.

~Mohnish Pabrai

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A subset of CEOs is that of entrepreneurs. And the classical definition of an entrepreneur is an individual who pursues opportunity without regard to the resources currently controlled. That sounds like a very different person than one might expect an analytical investment manager to be.

~Mohnish Pabrai

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The essence of a good investment manager is one who studies a given business and extrapolates the future cash flows that the business is likely to generate over the next several years. Based on the cash flow and asset assessment, they can then arrive at their expected rate of return if they bought a fraction of that business at a given price.

~Mohnish Pabrai

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When I ran a small IT services business in the 1990s, it had strong recurring revenues - yet I couldn't accurately forecast cash flow for even the next few quarters. Small changes in the customer base or losing/hiring a few key employees could create massive swings in cash flow.

~Mohnish Pabrai

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Biography

Nationality: Indian

Type: Businessman

Born: June 12th, 1964

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