Mohnish Pabrai's Million-Dollar Advice For A 12-Year-Old Investor

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The Q&A session at the recent Pabrai Funds annual meeting featured the following priceless exchange between the value investing guru and a boy sitting in the auditorium with his father:

Boy: If a person my age is thinking of becoming an investor , what are the main things I need to do to prepare?

Mohnish Pabrai: How old are you?

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Boy: Twelve.

Pabrai: I was two and a half times your age when I got to that question, so you’ve got a solid head start. Well, you’re at the meeting, so this is a good place for you to hang out. Are you having a good time?

Boy: Yes.

Pabrai: Have you been to Omaha [meaning, the Berkshire Hathaway annual meeting – PD]?

Boy: No.

Pabrai: Are you planning to go next year?

Boy: I don’t know.

Pabrai: Make sure your Dad takes you. Do you have a brokerage account?

Boy: Yes.

Full article here on Forbes

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