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?
Hedge fund managers go about finding investment ideas in a variety of different ways. Some target stocks with low multiples, while others look for growth names, and still others combine growth and value when looking for ideas. Some active fund managers use themes to look for ideas, and Owen Fitzpatrick of Aristotle Atlantic Partners is Read More
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?
Pabrai: Have you been to Omaha [meaning, the Berkshire Hathaway annual meeting – PD]?
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?
Full article here on Forbes