Mohnish Pabrai is one of the world’s most respected value investors. However, few outside the world of value investing know his name.
Still, the lack of notoriety hardly matters because Pabrai’s returns speak for themselves. His leading Pabrai Investment Fund II, which evolved out of PIF I has produced an annualized return of 13.6% since PIFI was founded on July 1, 1999. A $100,000 investment in PIFI at inception on July 1, 1999, and rolled over into PIF2 on 12/31/02 ($197,900) was worth $936,600 net as of December 31, 2016.
The returns have continued to grow with Pabrai writing in the funds’ annual report that during the first four months of 2017, PIF3 added a staggering 28.8%, versus 7.1% for the S&P 500.
As well as the yearly returns for the funds’, Pabrai also gives a fascinating insight into his investment process in his newly released 2016 annual report to investors, a copy of which was reviewed by ValueWalk.
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