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?
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