Mohnish Pabrai’s Top 10 Rules For Success
He’s an Indian-American businessman, investor, and philanthropist.
He sold his company TransTech, Inc in 2000 to Kurt Salmon Associates for US$20 million.
Today he is the managing partner of the Pabrai Investment Funds.
He’s Mohnish Pabrai and here are his Top 10 Rules for Success.
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1. Minimize risk
He worked with Tellabs between 1986–91.
2. Define your market
In 1991 he started his IT consulting and systems integration company, TransTech, Inc.
3. Stay within your circle of competence
He started with about $30,000 from his own 401K account and $70,000 from credit card debt.
4. Don’t sell what you wouldn’t buy
He has high regards for Warren Buffett and admits that his investment style is copied from Buffett and others.
5. Wait for the right pitch
He has written a book: The Dhandho Investor: The Low – Risk Value Method to High Returns.
6. Put yourself in their shoes
His approach to life is covered extensively in Guy Spier’s book, The Education of a Value Investor.
7. Focus on marketing
Another book by Pabrai is Mosaic: Perspectives on Investing.
8. Create a competitive advantage
He has won the 1999 KPMG Illinois High Tech Entrepreneur Award given by KPMG.
9. Have flexibility
He’s a member of the Young Presidents’ Organization.
10. Pay attention to feedback
He started the Dakshana Foundation with the goal of recycling most of their wealth back to society.
Evan do you think you can do something on Monish Pabrai? Thanks a lot. I love what you do!!